What's Going On With AMC Entertainment Stock?

AMC Entertainment Holdings Inc AMC stock is spinning its wheels on Thursday despite a strong move in shares of retail darling GameStop Corp GME. The two often trade in sympathy, but the retail crowd may have found shinier toys this holiday season.

What To Know: Meme stock trader Keith Gill, also known as “Roaring Kitty,” posted an image of a wrapped gift in traditional Christmas colors Wednesday while markets were closed for the holiday.

GameStop shares were up more than 5% at last check on the heels of the Roaring Kitty post, per Benzinga Pro.

Other so-called meme stocks were also getting a lift, including Koss Corp KOSS and BlackBerry Ltd BB. But AMC was trading flat to down after jumping briefly at the open.

AMC is considered one of the original meme stocks alongside GameStop. The stock has maintained cult-like support from a group of retail traders who call themselves apes since the meme stock craze of 2021.

AMC CEO Adam Aron has leaned into the support from retail traders. He reposted multiple X posts on Wednesday featuring images of apes watching movies at AMC theaters.

Check This Out: Roaring Kitty’s ‘Christmas’ Post Has GameStop Rallying 7% In Overnight Trading — Memecoin Connected To Trader Also Surge

Imax Corp IMAX CEO Rich Gelfond also provided strong commentary on recent box office strength in an interview on CNBC’s “Squawk On The Street” Thursday morning.

“The great thing about this time of year is every day is like a weekend … so a lot of momentum at the end of the year,” Gelfond said.

He noted that box office demand has been “really terrific” since Thanksgiving and suggested that a lot of families were visiting theaters on Christmas Eve and Christmas Day.

All of this seems to bode well for AMC, yet the stock is struggling to gain any momentum on Thursday. Instead, traders appear to guess Roaring Kitty’s next move.

Gill took a position in Chewy Inc CHWY stock earlier this year and telegraphed the move by posting a picture of a dog on X before disclosing a 6.6% stake in the pet retailer a few days later. He dumped his entire position in September.

Meme stocks began heating up again in early December after Gill posted an image of a TIME magazine cover featuring a blank computer screen and a video player paused at the 1:09 mark of a 4:20-long video. His only other post since is the image of a present posted on Wednesday.

There is a lot of speculation about what Roaring Kitty could be planning. One of the most popular guesses across Reddit’s r/WallStreetBets and Stocktwits appears to be a bet on Tilray Brands Inc TLRY. Tilray fits into the 420 theme and is due to report earnings before the market opens on Jan. 9, according to Benzinga Pro. Tilray was up about 4% at last check.

GameStop shares are up about 5% over the past month and are up more than 46% over the past three months. AMC shares, on the other hand, are down about 18% over the past month and are down about 8% over a three-month period.

AMC Price Action: AMC shares were down 0.37% at $4.05 at the time of publication, according to Benzinga Pro.

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