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AMC is still surging in a show of Reddit-fuelled retail power bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
AMC surges past $10 billion market value as rally hits 1000%
Bailey Lipschultz and Katherine Doherty, Bloomberg
May 27, 2021
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An AMC movie theater in Omaha, Neb., on Oct. 15, 2020.Bloomberg photo by Dan Brouillette.
AMC Entertainment Holdings Inc. s eager retail investors have vaulted the company s market value to $10 billion for the first time.
Shares rose 20% to $23 at 11 a.m. in New York, extending gains for a fourth day, as the Leawood, Kansas-based company surpassed the milestone. AMC s revival has been fueled by individual investors eager to save the movie theater industry after it raised more than $1 billion in financing to avoid bankruptcy over recent months. The stock is up 1000% year-to-date.
AMC meme revival pits trader euphoria versus big block trade
Phil Serafino and Bailey Lipschultz, Bloomberg News A vehicle passes in front of an AMC movie theater at night in the Times Square neighborhood of New York, U.S., on Tuesday, Oct. 15, 2020. AMC Entertainment Holdings Inc. is considering a range of options that include a potential bankruptcy to ease its debt load as the pandemic keeps moviegoers from attending and studios from supplying films. Photographer: Amir Hamja/Bloomberg , Bloomberg
AMC Entertainment Holdings Inc. posted its longest rally since 2018 as individual investor desire to trade meme stocks was reawakened.
AMC ended the day higher by 0.6 per cent to US$14.03 even after traders circulated news that a 17 million share block trade was said to price at US$14.20 each. The movie-theater chain flipped between gains and losses amid heightened trading volume for a fourth straight-session.
AMC meme revival propels it toward longest streak since 2018 bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.