AMC Entertainment Holdings Stock (NYSE:AMC) dropped 23% over the past five days, outperforming the S&P 500 which was down only 1%. If you look at the changes over the past ten days and one month, AMC stock has declined significantly (-28% and 29%) and outperformed the broader market on both occasions. In fact, it was last week that the company reported its busiest day for ticket sales ever since some domestic ticket sites crashed due to high volumes. However, fears of the spread of the Omicron variant still took a toll on the stock. The first case of the Omicron variant in the US was officially reported in California. If the version manages to spread as fast as it does in South Africa, it could have major implications for the movie theater industry, in the form of reduced attendance or a complete shutdown, if lockdowns and restrictions are reimposed. AMC has recently started seeing an improvement in its sales, which is likely to help it manage its large debt load, another pandemic wave likely to severely impact its recovery prospects. These fears have led to a sharp decline in the stock recently.
Check out our analysis to see how AMC stands up to its peers AMC Entertainment Holdings vs Cinemark,
Now, is AMC stock set to fall further or can we expect some recovery? We believe AMC stock has a 69% chance of growth in the next month (21 trading days) based on our Machine Learning analysis of stock price trends over the past eight years. View our analysis AMC stock likely to rise,
Twenty One Days: AMC -29%, versus the S&P 500 -2.4%; underperforming market
(5% chance event; 69% increase chance over the next 21 days)
- AMC Stock 29% decrease Over the past twenty one trading days (one month), a decline of 2.4% compared to the broader market (S&P500)
- A change of -29% or more in twenty one trading days is a 5% probability event, having happened 108 times in the past 8 years since 1983.
- Out of these 108 instances, the stock has seen positive momentum on 74 occasions over the next twenty-one trading days.
- it indicates a 69% chance of the stock rising in the next twenty one trading days
Day ten: AMC -28%, versus the S&P 500 -3.5%; underperforming market
(3% chance event; 50% increase chance over the next 10 days)
- AMC Stock 28% decrease In the last ten trading days (two weeks), a decline of 3.5% compared to the broader market (S&P500)
- A change of -28% or more in ten trading days is a 3% probability event, having happened 52 times in the past 8 years since 1994.
- Out of these 52 cases, the stock has seen positive momentum on 26 occasions in the next ten trading days
- it indicates a 50% chance of the stock rising in the next ten trading days
Day Five: AMC -23%, versus the S&P 500 -1.2%; underperforming market
(2% chance event; 54% chance of increase over the next five days)
- AMC Stock 23% decrease in the five-day trading period ending 12/03/2021, compared to a 1.2% decline in the broader market (S&P500)
- A change of -23% or more in five business days (one week) is a 2% probability event, occurring 39 times out of 1999 in the past 8 years.
- Out of these 39 instances, the stock has seen positive momentum on 21 occasions over the next five trading days.
- it indicates a 54% chance for the stock to rise in the next five trading days
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