Shares of AMC Entertainment (NYSE: AMC) were down by 7.8% to $10.68 at 12:20 p.m. ET Tuesday, on no news specific to the company. The movie theater operator has seen its stock rally numerous times lately. For example, it popped after management announced it was investing in a defunct gold and silver miner, Hycroft Mining (NASDAQ: HYMC), and did again more recently after the company took a near-7% stake in National CineMedia (NASDAQ: NCMI), an advertising outfit for movie theaters.
Movie-theater chain AMC Entertainment (NYSE: AMC) is in the process of giving back last-week's gains. Last week, AMC announced it took a near-7% stake in movie-advertising outfit National CineMedia. It's been an unfortunate consequence of AMC's meme-stock status that its shares are highly volatile, which more often than not causes it to briefly shoot higher, only to end up lower than where it began.
Widespread inflation is rattling economies and pinching consumers' budgets. Rising inflation could be good and bad news for AMC Entertainment Holdings (NYSE: AMC). Now that folks are returning to movie theaters, AMC's revenue is exploding.