AMC Entertainment’s stock has surged by 94.5%, marking one of its largest one-day gains since going public in December 2013. The rise in stock value is attributed to the recent momentum in GameStop’s market performance, reminiscent of the ‘meme’ stock frenzy.
Although the current rally falls short of the record-breaking 301.2% surge observed on January 27, 2021, when ‘meme’ stock mania was at its peak, the trading volume has hit an all-time high. A staggering 388.97 million shares have already been traded, surpassing the previous record of 142.04 million shares exchanged on the same date.
However, a notable distinction lies in the stock price comparison. At $5.66 per share, the current value represents only 5.2% of the closing price of $107.87 on January 27, 2021. As a result, the total value of shares traded on Monday amounted to $2.09 billion, significantly lower than the $15.32 billion worth of shares traded during the peak frenzy in January 2021.
The stock market data reveals that AMC Entertainment Holdings Inc. Cl AAMC(U.S.: NYSE) is currently priced at $5.19 USD, marking an increase of 8.35%. On the other hand, GameStop Corp. Cl AGME(U.S.: NYSE) is priced at $30.45 USD, reflecting a substantial surge of 74.40%.
As the market continues to witness these fluctuations, investors and analysts are closely monitoring the evolving trends in the stock market, particularly in relation to ‘meme’ stocks like AMC and GameStop.
