AMC Entertainment Holdings Inc plunges 5% to surrender $10 mark.

$AMC Entertainment (AMC.US)$ $AMC Preferred Equity Unit (APE.US)$
AMC shares snapped their recovery above the $10 mark on Tuesday, as they sank in tandem with a global sell-off fuelled by hotter US inflation data. An upside surprise to the monthly Core CPI combined with upbeat headline inflation from the US cemented a 75 bps Fed rate hike for next week, sending major Wall Street indices deep in the red. Earlier in Tuesday’s trading, AMC stock price was trending higher on increased investors' interest. In the wake of the sell-off, AMC stock price eroded 4.89% on the day and surrendered the $10 level to settle at $9.72 per share.

AMC extended its streak to four consecutive positive sessions as the meme stock climbed back above the $10.00 price level. On Monday, shares of AMC gained a further 5.14% and closed the trading session at a price of $10.22.