Shares of AMC Entertainment Holdings Inc. continue to rise, with a 5.9% increase on Monday. This puts the stock on track to extend its winning streak to three days, marking its longest stretch since a four-day streak ending on December 28, 2023.
The stock has shown positive performance in four out of the last five days. Additionally, the short interest as a percentage of AMC's public float of shares stands at 10.9%.
Record Lows and Recent Rally
AMC, known for being an original meme stock and a prominent movie theater chain, has struggled with record lows in recent times. However, it witnessed a rally last week. On February 6, the stock recorded a remarkable 10.9% increase, marking its biggest single-day percentage gain since August 30, 2023.
From Highs to Lows
AMC shares hit a record-low close of $3.67 on February 5. This is a stark contrast to the peak of the meme-stock frenzy, when the stock reached an all-time closing high of $339.05 on June 2, 2021, according to Dow Jones Market Data.
Last month, AMC Chief Executive Adam Aron expressed his frustration with the decline in the company's share price.
Challenging Year for AMC
Over the past 52 weeks, AMC shares have experienced a significant decline of 88.8%. In contrast, the S&P 500 index has gained 21.4% during the same period.