Why AMC Entertainment Stock Jumped Before Earnings
Shares of beleaguered movie theater owner AMC Entertainment Holdings (NYSE: AMC) jumped more than 10% in early trading Monday, before settling down to about a 6% gain as of 10:20 a.m. EST.
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Wedbush Securities doubled its price target on the stock this morning, arguing that AMC has raised enough cash by this point to keep it solvent through at least midsummer. This could give the company a chance to survive until vaccinations permit the economy to reopen, and moviegoers begin returning to theaters.
Source Fool.com
