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

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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AUD/USD is trading close to 0.6800, as traders digest an unexpected increase in the Chinese Caixin Manufacturing PMI. The US dollar is licking its wounds on dovish Fed's Powell and the China reopening optimism. 

EUR/USD grinds higher past 1.0400, taking rounds to 1.0430 during early Thursday, as bulls await the key data/events after posting the biggest monthly jump since September 2010. The major currency pair struggles to extend the previous day’s U-turn from the 100-SMA.

Gold price is sitting at the highest level unseen in two weeks near $1,780, consolidating the three-day winning streak so far this Thursday. The main underlying reason behind the Gold price upsurge is a clear dovish message from Federal Reserve Chair Jerome Powell.

TRON price (TRX) has retaliated considerably against the bearish onslaught witnessed in November. Despite the optimistic gesture, TRX price still faces significant barriers of resistance ahead. Traders should consider trading more conservatively near the current price levels.

U.S. stocks rose, hurtling ahead, putting those nasty thoughts of a bear market to bed as the December Santa Rally springs alive. Indeed investors are revelling in the afterglow of moderating Fed signals.