AMC Stock Plummets 60%: Is the Meme Stock Hype Finally Over?
AMC Entertainment Faces Financial Turmoil Amid Meme Stock Volatility
AMC Entertainment Holdings Inc. (NYSE: AMC) has recently experienced significant volatility, with its stock price plummeting nearly 60% from its highest point this year, reducing its market capitalization to approximately $1.9 billion. This comes after benefiting from the meme stock frenzy, which has allowed the company to raise capital and temporarily bolster its balance sheet.
Financial Performance and Fundraising Efforts
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