Why AMC Entertainment Stock Skyrocketed 83% This Week
Shares of AMC Entertainment (NYSE: AMC) soared as much as 178% from their closing price on Friday, May 28 by Wednesday morning. Even after pulling back sharply on Thursday and Friday, the popular meme stock finished the week up a stunning 83%.
AMC embraced its growing army of fans on Wednesday with the launch of AMC Investor Connect, a new program designed to reward its shareholders with special offers, such as a free tub of popcorn when they return to an AMC theater for the first time this summer. The move helped to further ingratiate the company with its most passionate supporters. Retail traders pumped hundreds of millions into its stock in the days that followed, helping to fuel a steep rally in its share price.
AMC's investors love free popcorn. Image source: Getty Images.
Source Fool.com
