AMC Entertainment Holdings Inc (NYSE: AMC)
AMC Entertainment hasn’t been having the best of days in the market today. With the opening bell, the stock found itself in the red. Since then, it has stayed in the red zone throughout the session, but the losses weren’t anything to write home about. However, minutes ago, the declines got much larger as the stock spiked downward. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching with regard to AMC ahead.
What We’re Seeing From AMC
As mentioned above, AMC Entertainment wasn’t off to the best of days in today’s trading session. The stock immediately found itself in the red at the open of the market. Throughout the day, the stock has stayed relatively red, but the losses weren’t anything too big. Nonetheless, minutes ago, the stock started to take a dive. Currently (12:23), AMC is trading at $33.00 per share after a loss of $0.80 per share, or 2.37%.
Why The Stock Is Diving
As usual, as soon as the CNA Finance team saw that AMC was taking a dive, we started to do a bit of digging to see what was causing the dive. It didn’t take long to dig up the story in this case. While the company has not released any fundamental news that would lead to such declines, we did see something interesting in the social space.
At the moment, regardless of what social network you’re looking to, chances are that you’re seeing a big rumor that involves Apple. That rumor is that the company is currently in talks with various movie studios for early release of film rentals. Of course, the earlier consumers can see movies outside of the theater, the less money movie theaters like AMC Entertainment make!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AMC and Apple. At the end of the day, if Apple does strike a deal to release movie rentals early, it could once again throw a wrench in the movie theater industry as a whole. Nonetheless, we’ll keep a close eye on the story and update you as the news breaks!
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[Image Courtesy of Wikimedia]