AMC Entertainment Stock Is Rising: What's Going On?

AMC Entertainment Stock Is Rising: What's Going On?

AMC Entertainment Holdings Inc AMC shares are trading higher Monday amid continued retail investor interest.

AMC is trending across social media platforms as traders discuss the stock's short-squeeze potential. It was among the most mentioned tickers on Reddit's r/wallstreetbets over the last 24 hours. 17.29% of AMC's float is currently sold short, according to data from Benzinga Pro.

AMC shares charged higher on Friday after the world's second-largest movie theater chain Cineworld Group filed for bankruptcy

AMC Entertainment CEO Adam Aron highlighted the joint success of AMC and Walt Disney Co DIS via Twitter early Monday. 

"Disney and AMC do huge movie business together. And I have said for years that the consumer’s voracious quest for content allows both movie theatres and st[r]eamers to thrive," Aron said via tweet.

The AMC CEO noted that Disney+ subscribers are set to gain access to special screenings at AMC theaters as part of an expanded perks package with Disney. 

See Also: Activist Investor Daniel Loeb Retracts Stance Over Disney Spinning Off ESPN

AMC Price Action: AMC has a 52-week high of $34.33 and a 52-week low of $7.89.

The stock was up 5.3% at $10.24 at time of publication, according to Benzinga Pro.

Photo: Dave Dugdale from Flickr.

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