Shares of AMC Entertainment gyrated on Friday as speculative trading activities continued to escalate.
The stock turned 5% lower after rallying as much as 38% earlier Friday. Despite the intraday reversal, shares have advanced more than 100% week to date, bringing its monstrous 2021 rally to 1,200%.
AMC was the most active stock on the New York Stock Exchange by far on Thursday with nearly 700 million shares changed hands. Its 30-day trading volume average is just above 100 million shares, according to FactSet.
The stock recorded its highest trading volume of 1.25 billion shares on Jan. 27, and AMC could set a fresh record on Friday with over 360 million shares already traded by midday.