Why AMC Entertainment Stock Rose Monday
AMC Entertainment (NYSE: AMC) is getting a boost Monday after a big weekend movie release and news the company's former owner has virtually sold out of its holdings. At 10:50 a.m. EDT Monday, AMC shares were trading up 9.2%.
The theater operator has been the focus of investors for several reasons this year. An exponential rise in shares occurred when the company became a favorite of the retail trading crowd spurred by online forums. Shares quickly retreated, but the company took the opportunity to raise much-needed capital, and shares have steadily moved back up since February.
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Source Fool.com
