Can movie theatre chain and meme stock favorite AMC Entertainment hold onto its gains? That's the question on investors minds after shares of the Leawood, Kansas-based company have rallied 176% in the past month and now sit at $54.06 a share. A growing number of investors are starting to feel hopeful that the stock can maintain its current level as the summer movie season gets underway.

Due to the new normal of streaming, AMC stock will be weighed down by negative earnings that will struggle to reach pre-pandemic levels.

Once Reddit traders fold, downside risk is massive. Given the likely net value of its operating business, shares could easily lose 80% of their value, and still be overpriced. If you got in this early, it's time to take profit. But, if you haven't got into AMC stock yet? With downside massive, and share price upside from here debatable, it's wise to stay away.