AMC Stock News: AMC Entertainment, APE shares tumble as S&P 500 hits new low for 2022

Following Thursday’s losses, AMC’s true stock value price fell below the $10 price level for the first time in months. Of course, this is taking into account the combined price of AMC and its preferred units that trade under the ticker symbol APE. APE’s price dropped to its lowest levels since going public after falling by a further 14% to close the day at $2.90. 

Meme stocks were down nearly across the board on Thursday as the sector lost momentum following the earnings report from Bed Bath & Beyond (BBBY). The company reported a wider than expected loss for the quarter on a 28% drop in sales. Shares of BBBY fell by 4.2%, while GameStop (GME) also fell in sympathy by 6.8% on Thursday. 

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EUR/USD is about to end the week hovering around 1.0650, slightly below the level it had a week ago. Earlier on Friday, the pair bottomed at 1.0614, the lowest intraday level since March. The US Dollar lost momentum late on Friday on lower Treasury yields. 

GBP/USD is holding firm with weekly losses, unable to move away from 1.2200. The Pound is among the worst performers of the week after the Bank of England's decision to keep interest rates unchanged.

Gold price clings to small recovery gains above $1,920 following Thursday's sharp decline. Following the mixed September PMI data from the US, the benchmark 10-year US Treasury bond yield is down nearly 1% on the day at around 4.45%, allowing XAU/USD to stay in positive territory.

In a year filled with uncertainty in the cryptocurrency space, a new trend has been unraveling: a stablecoin exodus that has now lasted for 18 consecutive months and has seen the market dominance of stablecoins drop to 11.6%.

BABA stock surged more than 4% in Friday’s premarket after the Chinese ecommerce leader announced that its shipping and logistics business, Cainiao, will file for an initial public offering (IPO) in Hong Kong as soon as next week.