National CineMedia (NASDAQ:NCMI) stock is on the move Friday as the movie theater ad company’s shares continue to see wild swings this week.
The erratic swings NCMI stock has been through this week come from a couple of pieces of news. First off, earlier this week it was revealed that AMC Entertainment (NYSE:AMC) had taken a passive stake in the company. That doesn’t include voting rights, but it still gave the stock a boost.
Following that, National CineMedia announced a voluntary Chapter 11 bankruptcy filing. It made the filing as the company has plans for a restructuring that will result in it exiting bankruptcy as a leaner business.
What This Means for NCMI Stock Today
NCMI stock has been rising fairly well throughout the week as investors take interest in the AMC and restructuring news. However, that momentum had to stop at some point. That appears to be today with the company’s stock giving up some of the gains it made throughout the week.
Low trading volume comes alongside that with some 6 million shares of NCMI trading hands as of this writing. That’s below its daily average trading volume of about 12 million shares.
NCMI stock is down 11.8% during pre-market trading on Friday.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
