The AMC chain has reopened its Los Angeles theaters after a year with the blinds drawn. The news has extensively rejoiced on the stock market, and shares of AMC Entertainment (AMC) are now up 25.63% to $14.02.
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Oscar nominees are announced the same day as the reopening. As a result of the pandemic, the vast majority of titles have been projected on streaming channels.
Analysts, however, are hopeful for movie theaters and believe once the vaccines are more widely available, people will return to the more traditional system. Film holdings in the US and worldwide have been severely affected by the pandemic. In addition to airlines and cruise operators, these companies have been among the hardest hit as well.
Cinemark shares have plummeted by more than 20% since the outbreak. Despite its near bankruptcy, the AMC network succeeded in attracting funding for $917 million.
AMC stock is also known as memos. Reddit users have heated these stocks since January 2021. Significant funds on this security have opened many short positions. Members of the Reddit community cooperated to push AMC up, causing a short squeeze resulting from short-sellers closing short positions and buying back the paper to return it to the broker. In response, the number of quotations increases to an even greater extent. AMC has gained more than 550% since the beginning of the year.
Taking a look at AMC’s past performance, we will explore different moving trends for the AMC Stock. In the last month, this stock rose 150.27% and gained 51.13% over the past week. During the previous quarter, shares of AMC rose by 243.28%. Within the past six months, AMC stock has gained 142.49%, gain 336.02% in the past 12 months. Currently, this stock’s year-to-date price performance is 562.26% positive.
