The Delta variant could spell trouble for energy producers. Crude oil prices on Monday neared their lowest levels since May, as traders worry that travel restrictions and delayed office reopenings would limit fuel consumption. Governments and businesses have been imposing new restrictions in an attempt to slow the spread of the highly transmissible coronavirus variant. ConocoPhillips shares lost 1.9% Monday, while Valero Energy Corp. fell 0.8%.
AMC Entertainment Holdings Inc.
Soon you’ll be able to pay for your AMC movie ticket with bitcoin. The theater chain and popular meme stock said Monday that its U.S. locations would start accepting the cryptocurrency by the end of the year. It’s a move aimed at appealing to the company’s army of Reddit investors who rescued it from the brink of bankruptcy and boosted AMC shares to record levels. During AMC’s earnings call, Chief Executive Adam Aron also said revenue tripled in the second quarter, and the company was opening new locations thanks to the support of his new shareholder base. AMC shares fell 6.1% Tuesday.