By Sam Boughedda
Investing.com — AMC Entertainment Holdings Inc's (NYSE:AMC) CEO Adam Aron said Wednesday that the company is still on track to accept Dogecoin and Shiba Inu payments in the first quarter of this year.
AMC shares rose 0.3% on Thursday.
In a tweet, the CEO of the cinema chain said he has "been repeatedly asked when AMC expects to routinely accept Dogecoin and Shiba Inu for any and all payments made via the AMC web site and mobile app."
"I am being told that we are still well on track for the promised Q1 implementation, with exact timing most likely in March."
In September the CEO said in a tweet that the company needed to figure out how to accept Dogecoin. Then, in November, Aron announced the company had started accepting Bitcoin, Ethereum, Bitcoin Cash, Litecoin as online payments.
AMC Entertainment Still on Track to Accept Dogecoin Payments in Q1
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Washington Is Here To Help – Really By Michael W. Robinson For the singular macro-level issue that will hover over corporate governance decision making in 2022, thanks are due to former President Ronald Reagan for his prophetic admonition that “the nine most terrifying words in the English language are: ‘I’m from the Government, and I’m […]The release of the Fed minutes today caused a broad sell-off in "risk" assets, including these meme stocks.
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What happened A day after a deep market sell-off, shares of AMC Entertainment Holdings (NYSE: AMC) and GameStop (NYSE: GME) were mixed. As of 1:30 p.m. ET, AMC was down 1.7%, recovering from another steeper dip earlier in the day in a volatile trading session.
Shares of MercadoLibre (NASDAQ: MELI), Coupang (NYSE: CPNG), and DoorDash (NYSE: DASH) all fell hard this week, with these stocks down 14.2%, 12.7%, and 7.8%, respectively, through the end of trading on Thursday. Earlier this week, U.S. Food and Drug Administration (FDA) commissioner Dr. Scott Gottlieb made several media appearances in which he gave good news on omicron. Well, a faster reopening and higher economic growth have come with inflation, at least in recent months.
No doubt about it — this week has been a good one to own stock in Alibaba Group (NYSE: BABA). Today, Alibaba got even more good news (of a sort) when JPMorgan lowered its price target — but agreed with Benchmark that no matter how you measure it, Alibaba's stock price is still too low. As of 11:45 a.m. ET, Alibaba shares are up 4.1% on the news, bringing the stock's gains for the week to more than 10%.
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Reversing much of its gains from November, lithium stock Lithium Americas (NYSE: LAC) tumbled 25.9% in the month of December, according to data provided by S&P Global Market Intelligence. Lithium prices continued to soar, and Lithium Americas was busy building a cash pile, so why did its shares sink? Lithium Americas shares dropped sharply the very first day of December as investors took note of the company's latest move to raise debt.
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What happened Shares of Novavax (NASDAQ: NVAX) were sinking 15.1% this week as of the market close on Thursday, based on data from S&P Global Market Intelligence. The only news from the company in recent days was an announcement that its CEO, Stanley Erck, will participate in the virtual J.
Shares of document-management leader Docusign (NASDAQ: DOCU) fell 6.7% today, as of market close. It's a new year, but the narrative surrounding fast-growing tech stocks remains the same as it was for much of 2021: Fear of rising interest rates keeps pushing growth stocks down. Specifically, minutes from the Federal Reserve's last meeting indicate that a more aggressive raising of interest rates and other moves to try and tame inflation might be in store sooner rather than later.
The stocks of Lucid Group (NASDAQ: LCID) and Nio (NYSE: NIO) are each down between 20% and 30% since the start of December 2021. As of 1:50 p.m. ET, shares of Lucid and Nio were down 4.7% and 2.2%, respectively. While shares have been trending down with the tech market recently, Lucid and Nio may be getting affected a bit by Tesla right now.
Shares of solar energy stock Enphase Energy (NASDAQ: ENPH) fell as much as 7.2% in trading on Thursday after the Federal Reserve released minutes from its most recent meeting. The Federal Reserve said in minutes from its most recent meeting that it may need to raise rates sooner than expected. As a result, yields rose in the market with the 10-year Treasury rising two basis points today, and yields are now up 29 basis points over the past month.
The stock market was having a fairly strong session on Thursday, but insurance disruptor Lemonade (NYSE: LMND) was an exception. As of 2:30 p.m. ET, Lemonade was down nearly 3%, reaching a fresh 52-week low in the process. An analyst at Barclays who covers Lemonade maintained its "equal-weight" rating (similar to a neutral opinion) but dramatically lowered their price target on the stock from $62 to $43.
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