Why AMC Shares Are Skyrocketing Today
AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading higher by 22.91% at $12.74, rebounding off near the company’s 52-week low of $9.70. Strength could possibly be due to short-covering amid a recent selloff in the name.
Shares of several companies in the broader communications, media and entertainment industry, including AMC, have been experiencing marked weakness and are trading lower in recent sessions amid overall market weakness as investors digest the latest US inflation data, which came in higher-than-expected.
AMC shares fell during Wednesday’s session following CPI data. The headline CPI rose 8.3% in April, down slightly from 8.5% in March but above economist estimates of 8.1%. Prior to 2022, the CPI hadn't risen 8.3% in any month since 1982... Read More
See Also: Why Disney Shares Are Sliding Today
AMC is involved in the theatrical exhibition business.
According to data from Benzinga Pro, AMC has a 52-week high of $72.62 and a 52-week low of $9.60.