On Wednesday, AMC Entertainment (NYSE:AMC) rose by 6.37 percent. As the highest US inflation rate since 1981 was digested by investors, the AMC recovered most of its losses from the previous day. As a result, AMC’s stock increased 6.37 percent on Wednesday, ending at $18.53.
Traders ignored the CPI figure, which came the day after the Federal Reserve published the highest inflation rate in decades and sent the markets into a tailspin. Since last week, all three main indexes ended the day higher for the first time. Regaining 344 points, the S&P 500 and NASDAQ recovered 1.12 percent and 2.03 percent during the trading day.
AMC has bought seven additional venues and is actively seeking more.
Investors reacted positively to AMC’s statement on Wednesday that it had bought seven more theaters in the eastern United States. Additionally, the corporation acquired additional facilities in large cities like Chicago and Los Angeles in the recent past. However, it’s safe to say that the COVID-19 outbreak had a much more significant impact on smaller theater chains than AMC. As a result, the world’s biggest cinema company aggressively seeks new sites to add over 10,500 screens worldwide to its inventory.
The AMC Apes have announced that the AMC Crypto Token will go live shortly.
In other AMC news, the Apes have announced that they will be launching the AMC Token (TAMC), which will be traded on the crypto market. There will be no ICO, pre-sale, or seed round since the token will be made accessible via the Fair Launch website. The ticket will be available to all traders on the ERC-20 Ethereum network as soon as it becomes live. On the 30th of April, the token will be made accessible.
Forecast AMC stock
AMC Entertainment Holdings Inc. has a consensus 12-month price target of $6.00, ranging from a high of $16.00 to a low of $1.00. There has been a 67.53% drop in price from the previous estimate of 18.48.
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