Why AMC Entertainment Shares Are Trading Higher Today

AMC Entertainment Holdings Inc AMC is trading higher Tuesday after the company announced a new Labor Day admissions-revenue record.

AMC Entertainment announced that more than 2 million people watched movies at AMC’s United States theatre locations during Labor Day weekend. More than 800,000 additional people visited AMC’s international theatres in Europe and the Middle East.

The numbers surpassed the previous admissions-revenue record set during Labor Day weekend in 2013.

See Also: AMC, IMAX Tout Pumped Up Box Office Thanks To Disney's 'Shang-Chi And The Legend Of The Ten Rings'

"First, our U.S. admissions revenues set a new Labor Day weekend record for AMC in the U.S., eclipsing a record previously set in 2013," said Adam Aron, chairman and CEO of AMC Entertainment.

"Second, more people in the U.S. went to the movies at AMC during Labor Day 2021 than they did during Labor Day weekend in 2019. This is the very first weekend that our attendance numbers were ahead of those of the same weekend pre-pandemic, since we closed our theatres in March of 2020," Aron added.

AMC Price Action: AMC Entertainment has traded as high as $72.62 and as low as $1.91 over a 52-week period.

The stock was up 7.11% at $47.15 at time of publication. 

Photo: Jeff from Flickr.