Why AMC Entertainment Stock Jumped Monday

Shares of AMC Entertainment Holdings (NYSE: AMC) have been on a wild ride: from closing during the pandemic, to becoming a WallStreetBets forum favorite, to announcing reopening progress. The stock jumped again Monday, with shares up almost 22% as of 11 a.m. EDT.

Today brought company news on two fronts. First, Dalian Wanda Group, the Chinese controlling shareholder, has given up its majority control, while still remaining the company's largest shareholder. But perhaps more related to the stock move, the company announced that it is starting to reopen its theaters in the important Los Angeles market today. 

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Source Fool.com