Why AMC Entertainment Stock Popped Today

Movie theaters are lifting mask mandates for vaccinated moviegoers, and the weekend release of A Quiet Place Part II became the biggest U.S. box office hit of the pandemic era. But that's not what's moving the stock of AMC Entertainment Holdings (NYSE: AMC) today. As of 9:40 a.m. EDT, shares were up 13% after jumping more than 20% to start the session.

AMC stock popped today after the company said it sold 8.5 million shares to raise more than $230 million in new capital. That represents a sale price of $27.12 per share, compared to another share sale the company made just three weeks ago at a price of under $10 per share.

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Source Fool.com