AMC Stock Increased 24.47%: Why It Happened

By Amit Chowdhry ● July 20, 2021
  • The stock price of AMC Entertainment Holdings Inc (NYSE: AMC) increased by 24.47% today. This is why it happened.

The stock price of AMC Entertainment Holdings Inc (NYSE: AMC) increased by 24.47% today, going from a previous close of $34.62 to $43.09. One of the catalysts that likely contributed to the stock price increase was an announcement from CEO Adam Aron. 

“It is a great pleasure to announce two long-term leases on The Grove and The Americana. Gorgeous theatres as our newest AMC’s! No ordinary theatres, in 2018 the 2nd and 5th highest grossing movie theatres in greater Los Angeles. Hoping to add several more theatres as well,” wrote Aron in a tweet.

That tweet was liked over 11,000 times and it was retweeted more than 2,200 times so far. Many of the comments in that tweet also appear to be criticizing investors who are shorting the stock. 

AMC was not the only so-called “meme stocks” that saw an uptick today: GameStop increased 10.2%; Naked Brand Group increased 18.67%; BlackBerry increased 7.49%; Koss increased 4.75; and Express increased 9.66%.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.