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What's Up With AMC Stock?

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What's Up With AMC Stock?

AMC Entertainment Holdings Inc (NYSE: AMC) shares moved past the $10 psychological mark in Monday’s after-hours session, spiking over 5%.

What Happened: There were no significant triggers for the movement in the shares. AMC continues to remain popular as a meme stock among retail investors.

AMC was the fourth most mentioned stock on r/WallStreetBets over the past 24 hours to press time, attracting 250 mentions on the forum, according to data obtained from Quiver Quantitative.

Tesla Inc (NASDAQ: TSLA) and GameStop Corporation (NYSE: GME) were ahead of AMC in terms of mentions, but Palantir Technologies Inc (NYSE: PLTR) was the most mentioned on WallStreetBets.

AMC shares spiked 5.13% in Monday’s after-hours session to $10.24 after closing 2.42% higher at $9.74 in the regular session.

AMC is also the top-trending ticket on Stocktwits at press time.

See also: How to Buy AMC Stock

Why It Matters: Last week, AMC CEO Adam Aron said that the company is staring at an “increasingly favorable environment.”

AMC attracted nearly 7 million U.S. and international moviegoers to its cinemas in the first quarter, as per the CEO. On a year-till-date basis, AMC shares have spiked 359.14%.

See Also: Bill And Melinda Gates' Divorce News A Bull Case For GameStop? What You Need To Know

Photo by JAH2k on Wikimedia

 

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