Why Are National CineMedia (NCMI) Shares Shooting Upwards Today? - National CineMedia (NASDAQ:NCMI)

National CineMedia, Inc NCMI shares gained premarket today after it disclosed AMC Entertainment Holdings, Inc AMC holding a 9.1% stake in the company.
An April 10 filing disclosed AMC holding 16.5 million shares in National CineMedia.
In May 2022, a filing disclosed that AMC has a 6.8% ownership stake in National CineMedia.
National CineMedia (NCM) is America's Movie Network.
Also Read: AMC Britain Rival Cineworld Files Restructuring Plan in Bankruptcy Court, Shareholders to be Wiped Out
Price Action: NCMI shares traded higher by 114.2% at $0.2849 premarket on the last check Tuesday.