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On Thursday, NYSE:AMC soared 6.37 percent to close out a wild session.
Another big studio has announced that it will release its films to television at a faster rate than ever before.
The recent slump in meme stocks has finally come to an end.
On Thursday, NYSE:AMC took its investors on a roller coaster journey, with shares falling in the morning but surging by the closing bell. AMC finished the day with a gain of 6.37 percent, closing at $47.94. The stock continued to rise in after-hours trading, with AMC up 2.45 percent as of this writing. Meme stocks have seen tremendous volatility throughout 2021, so retail investors are used to these extreme swings.
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A rumor that Universal Studios will be launching its new movie releases on its Peacock streaming platform within four months of their theatrical debut caused AMC to fall in the morning. This new release schedule will begin in 2022, according to Universal Studios, which is owned by Comcast (NASDAQ:CMCSA). The news comes after studio behemoth Walt Disney (NYSE:DIS) announced that several of its upcoming films will be available on its Disney+ streaming service, with some even premiering concurrently with their theatrical debuts. Universal Studios’ four-month window implies AMC theaters will have an even tighter window for ticket sales and may lose some moviegoers altogether.

On Thursday, AMC was joined by its fellow meme stocks, as many others defied the recent dismal trend. GameStop (NYSE:GME) rose 0.38 percent, BlackBerry (NYSE:BB) rose 0.79 percent, and ContextLogic (NASDAQ:WISH) rose 0.46 percent, all outperforming the overall market and snapping their recent losing streaks. Despite Thursday’s rebound, the meme stocks have lost most of the impetus they had in early June, and the general attitude remains gloomy./nRead More

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