AMC Entertainment Holdings, Inc. (AMC) can't seem to catch a break. The movie theater chain's stock briefly touched new all-time lows on Tuesday, hitting $1.60 per share, even as the business itself showed signs of life during the holiday season.

It's the kind of disconnect that makes you wonder what investors are seeing that moviegoers apparently aren't.

The Technical Damage

The numbers paint a grim picture. AMC is trading 19.3% below its 20-day simple moving average and a staggering 37.2% below its 100-day SMA. Over the past year, shares have plummeted 59.07%. The Relative Strength Index sits at 20.47, firmly in oversold territory, while the MACD remains below its signal line, reinforcing the bearish momentum.

This all happened while the broader market showed mixed signals Tuesday. The Nasdaq managed a modest 0.14% gain, but the Dow Jones and Russell 2000 were both in the red. AMC managed to underperform even that lackluster environment.

But People Are Actually Going to Movies

Here's where it gets interesting. The company reported on Monday that more than 5.5 million people watched movies at AMC theaters on Christmas and the three days following. That Thursday-through-Sunday stretch was AMC's second-busiest weekend of 2025 worldwide.

Several new releases drove the traffic, with Avatar: Fire and Ash, Marty Supreme, and Zootopia 2 each generating at least $14 million at the domestic box office. Internationally, the weekend was even more impressive, becoming AMC's busiest international weekend of 2025 with more than 1.7 million moviegoers.

The company is also trying some creative partnerships. AMC is working with Netflix to offer the series finale of Stranger Things, which first aired in 2016, as a theatrical experience. It's one of many experiments the theater chain has been running to diversify its offerings.

"Seeing such a wide variety of films performing so well for multiple weeks in a row reinforces our belief that a robust and diverse theatrical slate benefits everyone," said AMC CEO Adam Aron. "It's great for AMC and all of theatrical exhibition, it's great for our studio partners, and most importantly, it's great for moviegoers seeking a wide range of genres and experiences."

The Earnings Picture

AMC has been surprisingly consistent on the revenue front, beating market expectations in 17 of the past 18 quarters. Last quarter, the company reported $1.3 billion in revenue. But profitability remains elusive. The company has either just met or missed earnings-per-share expectations in three of the past six quarters.

That disconnect between foot traffic and stock performance suggests investors remain skeptical about the company's ability to translate moviegoers into sustainable profits. With technical indicators showing extreme weakness but also potential oversold conditions, traders are watching for any reversal signals. For now, the longer-term trend remains challenging for this former meme stock darling.

AMC Price Action: AMC stock hit all-time lows of $1.60 on Tuesday. Shares were down 0.61%, trading at $1.62 at the time of publication.