The AMP Ltd (ASX: AMP) share price has continued its long-term slide through December so far. However, today's news has boosted it closer to the green.
Prior to today, AMP's stock was trading for 9% less than it was at the end of last month.
Luckily, as of Friday's close, the AMP share price is $1. That's 6.9% higher than it was at the end of Thursday's session.
That means it's only fallen 2.4% over December so far.
For context, the S&P/ASX 200 Index (ASX: XJO) has gained 2.3% this month.
Let's take a look at what's been going on with the embattled company lately.
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What's driving the AMP share price this month?
After a rocky November, the AMP share price has spent much of December tumbling, potentially due to news released on the final day of last month.
On 30 November, AMP provided the market with an update on its planned demerger and a brief look at its future strategy.
The demerger – which will see AMP's private markets business (PrivateMarketsCo) separated from the company – is set to go ahead in the first half of 2022.
It will see AMP able to focus on its work as a retail wealth manager. Meanwhile, its private markets business is expected to become a global manager of infrastructure and real estate investments, increasingly focusing on international institutional clients.
On releasing the update, the AMP share price gained 3%. However, it toppled into December, falling 8.7% over the first 2 days of this month.
The company also recently released non-price-sensitive news of how its shares will soon be traded.
Last week, AMP announced it's decided it will de-list from the New Zealand Exchange (NZX) in February. It said doing so will simplify its shareholder administration as it ramps up for its split.
Fortunately, the company announced good news on Christmas Eve. This morning, AMP announced PrivateMarketsCo has agreed to sell its infrastructure debt platform for $428 million.
The platform will be purchased by Ares Management Corporation (NYSE: ARES).
Despite today's uptick, the AMP share price's recent performance has added to its long-term woes.
Its shares are now trading for 35% less than they were at the start of 2021.
However, with 3 sessions left to go in December, plenty of investors will likely be watching AMP in the hope its stock can finish 2021 strong.
