Why AMC Entertainment Soared 22% This Week
Shares of AMC Entertainment (NYSE: AMC) were up in lights again last week, jumping 22.5% from where they closed a week ago Friday, according to data by S&P Global Market Intelligence.
Although the stock is still down 74% from the heights attained during the meme stock trading frenzy a year ago, and are off over 30% in 2022 alone, the reversal of fortune is a welcome reprieve for investors in the movie theater operator.
AMC made a number of announcements this past week that investors see as benefiting the theater chain over the long haul, not least of which was refinancing some $950 million worth of its debt that will reduce its interest payments by $24 million.
Source Fool.com
