The “meme-stock” reprise of 2022 took another beating on Monday as shares in the movie theatre chain AMC, one of the companies driven to dizzying heights by a social media-fueled investing frenzy last year, dropped sharply again as investors soured on its recent rally.
Shares of the world’s largest theater chain dropped 31% after the UK-owned rival Cineworld, operator of Regal cinemas in the US, warned of potential bankruptcy filing as it struggles to cut debts that soared during the pandemic.
