Here's Why AMC Entertainment Stock Rose Today
AMC Entertainment (NYSE: AMC) reported first-quarter 2021 financial results Thursday night, and investors liked what they heard. As of 10:30 a.m. EDT Friday, shares were 7.8% above yesterday's closing price.
The company said 99% of its domestic theaters are open with limited seating capacity, but only about 27% of its international sites are currently open. Though one comment from CEO Adam Aron is likely what has investors most optimistic. In the earnings conference call, Aron said the leading theater operator has gained an advantage from the crisis. Aron said that "our market share in the United States has soared, increasing by about 25% compared to prepandemic levels."
Source Fool.com
