Why AMC Entertainment Stock Soared 81% in November
Shares of AMC Entertainment (NYSE: AMC), the world's largest movie theater chain, jumped last month as the stock got a huge boost from positive vaccine developments, most notably from Pfizer in partnership with BioNTech, which was the first team to announce a successful phase 3 vaccine trial.
That news helped AMC stock overcome another dismal earnings report and an earlier warning that it could run out of cash by the end of the year. Shares finished the month up 81%, according to data from S&P Global Market Intelligence. The chart below shows the majority of those gains came on Nov. 9 after the Pfizer news came out.
Source Fool.com
