(VIANEWS) - One of the most known meme stocks, AMC, announced earlier this week that Bitcoin payments will be available to purchase tickets and concessions online.
Adam Aron, AMC's CEO announced the fact during a conference call with analysts on Monday. The purpose was to talk about the second-quarter earnings report.
Aron stated that the theater chain would have technology in place by year's end to allow cryptocurrency payments.
Shares of AMC (AMC) jumped 5.71% to $33.35 at 14:17 EST on Thursday, after two consecutive sessions in a row of losses. NYSE Composite is dropping 0.17% to $16,847.49, after two consecutive sessions in a row of gains. This seems, as yet, a somewhat down trend exchanging session today.
AMC's last close was $31.55, 56.55% below its 52-week high of $72.62.
Volume
Today's last reported volume for AMC is 49957084 which is 71.9% below its average volume of 177794229.
The company's growth estimates for the present quarter and the next is 82.7% and 93.6%, respectively.
AMC's Revenue
Year-on-year quarterly revenue growth declined by 84.2%, now sitting on 449.2M for the twelve trailing months.
Volatility
AMC's last week, last month's, and last quarter's current volatility was a positive 1.15%, a negative 1.87%, and a positive 7.86%, respectively.
AMC's current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 4.49% (last week), 6.90% (last month), and 7.86% (last quarter), respectively.
Stock Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions,
AMC's stock is considered to be overbought (>=80).
AMC's Stock Yearly Top and Bottom Value
AMC's stock is valued at $33.35 at 14:17 EST, way below its 52-week high of $72.62 and way above its 52-week low of $1.91.
AMC's Moving Average
AMC's worth is way under its 50-day moving average of $45.28 and way higher than its 200-day moving average of $22.32.
Previous days news about AMC (AMC)
Jim Chanos says AMC entertainment’s fundamentals have gotten worse. According to Bloomberg Quint on Tuesday, 10 August, "The fundamentals at AMC Entertainment Holdings Inc. have deteriorated, short seller Jim Chanos said."
AMC to accept Bitcoin as payment for tickets, concessions by end of year. According to Benzinga on Tuesday, 10 August, "Aron added that AMC Entertainment is in the preliminary stages of exploring how else the company can participate in the new "burgeoning cryptocurrency universe.", "What Happened: "By year end, we will have the information technology system in place to accept Bitcoin as payment for movie tickets and concessions if purchased online at all of our U.S. theatres," AMC Entertainment CEO Adam Aron said on the Q2 earnings call on Monday."
Stocks making the biggest moves in the premarket: casper sleep, AMC entertainment, 3d systems and more. According to CNBC on Tuesday, 10 August, "AMC Entertainment (AMC) - AMC reported a quarterly loss of 71 cents per share, 20 cents a share smaller than Wall Street had anticipated. "
AMC stock is surging, extending its streak of post-earnings runups. According to MarketWatch on Tuesday, 10 August, "Shares of AMC Entertainment Holdings Inc. rallied 8.6% in premarket trading Tuesday, which is a little better with how they have performed after earnings for the past year and a half. ", "Wedbush analyst Alicia Reese reiterated her neutral rating and $7.50 stock price target, saying AMC's results were encouraging for the exhibition industry, and that AMC has "made the best of its 'Meme Stock' status" by raising equity capital. "
'but can I pay in dogecoin?' how crypto twitter is reacting to news of AMC accepting Bitcoin. According to Benzinga on Tuesday, 10 August, "David Gokhshtein, CEO of crypto media firm Gokhshtein Media, said he is surprised AMC Entertainment is not accepting Dogecoin, but noted that Bitcoin still brings adoption.", "A tweet by Anthony Pompliano, the head of Pomp Investments and a known Bitcoin proponent, that AMC will accept Bitcoin had 9,622 likes and 901 retweets at press time."
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