AMC Is a ‘Low Priced Stock’ in New ETF Hit by Quirk of Indexing By Bloomberg


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(Bloomberg) — When Direxion’s new budget-stock fund starts trading on Thursday, its biggest holding will be one of the most famously expensive shares in the country.

A quirk of indexing means AMC Entertainment (NYSE:) Holdings — currently pricier than about 90% of members — has yet to exit the gauge of cheap shares tracked by the exchange-traded fund.

As a result, the movie-theater operator and Reddit favorite will account for 6.95% of the Direxion Low Priced Stock ETF (ticker LOPX) on its first day. While the product targets companies with a share price between $2 and $5, AMC

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Why AMC Entertainment Stock Was Falling Today

What happened

Shares of AMC Entertainment Holdings (NYSE:AMC) were cooling off today as domestic box office receipts declined this weekend from the prior one and as ticket sales for Walt Disney’s (NYSE:DIS) Black Widow tumbled in its second weekend in theaters, which could show the impact of the Marvel movie’s simultaneous release on Disney+. In fact, the movie theater industry lobbying group took a swipe at the strategy.

As a result, AMC stock was down 9.8% as of 10:11 a.m. EDT. 

Image source: AMC Entertainment.

So what

Total domestic box office receipts came in at $92.7

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Why AMC Entertainment Stock Skyrocketed 2,573% in the First Half of 2021

What happened

Shares of movie theater giant AMC Entertainment (NYSE:AMC) rose an almost unbelievable 2,573% in the first six months of 2021 according to data from S&P Global Market Intelligence. You could drop two digits off of that (on either side) and it still would have been a great showing for such a short period of time. The problem is that the stock performance had almost nothing to do with the company’s business performance. 

So what

AMC Entertainment has been one of the biggest Reddit stocks, with message board denizens pushing the gains to absolutely stratospheric levels.

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Why AMC Entertainment Stock Is Falling Again Today

What happened

Shares of AMC Entertainment Holdings (NYSE:AMC) continue to fall, and were down 6.6% Tuesday morning on no company-specific news, but instead because the momentum behind meme stocks fading. GameStop (NYSE:GME) was down over 3% as well.

The theater operator’s stock is down more than 17% over the last five trading days.

So what

The retail investors trying to maintain AMC’s elevated stock price as a means of forcing the hand of short-sellers could have a long wait ahead as hedge funds have the financial wherewithal to outlast them.

Image source: AMC Entertainment.

The shorts

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Why Hall of Fame Resort & Entertainment Stock Surged Today

What happened

Shares of Hall of Fame Resort & Entertainment (NASDAQ:HOFV) climbed 8% on Friday after it announced an intriguing new partnership with Esports Entertainment Group (NASDAQ:GMBL).

So what 

Hall of Fame Resort is developing a multi-use sports entertainment complex near the Pro Football Hall of Fame in Ohio. The plan includes a stadium, a waterpark, hotels, retail stores, and youth sports leagues. Hall of Fame’s agreement with Esports Entertainment will allow it to add a Helix eSports entertainment center to its growing lineup of attractions.

Image source: Getty Images.

Esports Entertainment’s complex will contain

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Why AMC Stock Continued to Drop Today

What happened

Movie theater operator AMC Entertainment Holdings (NYSE:AMC) seems to be losing its luster with the retail trader crowd that now makes up 80% of the company’s shareholder base. AMC stock is down 30% in the past two weeks, and dropped as much as 14% Thursday morning. AMC shares have recovered some, but remained down 6.2% as of 10:05 a.m. EDT.

So what 

Some of the negative sentiment came earlier this week when AMC CEO Adam Aron said he was tabling a shareholder vote on a proposal he supported to add another $25 million shares to the

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