Why AMC Entertainment Is Falling Yet Again Today
This might not be the "mother of all implosions," but shares of AMC Entertainment (NYSE: AMC) are trading down 6.8% at 11:34 a.m. on Thursday, the second consecutive day the stock is heading lower. Yesterday, AMC shares tumbled 12.7%.
The movie theater operator began an amazing run higher a little over two weeks ago, more than doubling in value after AMC said it was buying into a gold and silver miner. It rocketed 45% high in one day of trading when CEO Adam Aron said the cinema stock was looking to do more such deals.
The sell-off is likely just some profit taking, as the stock is still 77% above where it was before the rally began.
Source Fool.com
