However, the massive price decline, could also partially be attributed to news that one of its largest competitors is considering Chapter 11 bankruptcy.
UK-based Cineworld, which owns Regal Cinemas in the US, confirmed Chapter 11 bankruptcy.
The weakness in AMC, extends a week-long sell-off in meme stocks that was spearheaded by Bed Bath & Beyond after the struggling retailer saw one of its big investors, Ryan Cohen, sell his entire stake in the company. GameStop and Bed Bath & Beyond plummeted 6% and 12%, respectively.
