Why AMC Entertainment Stock Jumped Monday
Shares of movie theater operator AMC Entertainment Holdings (NYSE: AMC) have been on the move again this month. The stock retreated from unexplainable levels in January after the retail trading crowd bid up shares, cheered on by Reddit users. But the stock has regained that momentum recently, and is up more than 50% in the past month. Today, shares were up more than 6% as of 1 p.m. EDT.
Several things have gone AMC's way recently. Perhaps most notably for the business itself is the statement by the U.S. Centers for Disease Control and Prevention (CDC) last week that vaccinated individuals are protected from COVID-19, and no longer need to wear masks even indoors without social distancing. That opens up movie theaters to get back to full capacity. But also contributing to gains in the last month have been a capital raise and possibly more retail trader attraction to AMC stock.
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Source Fool.com
