Why AMC Entertainment Shares Are Rising Today

AMC Entertainment Holdings Inc AMC is trading higher Wednesday after the company announced the hiring of a former PepsiCo Inc PEP executive to oversee its popcorn business expansion.

Beginning Feb. 18, Ellen Copaken will join AMC as the vice president of growth strategy. AMC said Copaken will lead the implementation of growth ideas related to popcorn sales outside of AMC’s in-theater channel.

AMC on Tuesday also announced that it reached lease agreements with Unibail-Rodamco-Westfield to reopen two locations in San Diego and Washington D.C. during February and March.

AMC noted that it remains in active discussions with other property owners regarding additional locations that are currently closed.

"AMC continues to play offense and aggressively seek out opportunities to strengthen our company through strategic acquisitions," said Adam Aron, chairman and CEO of AMC.

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AMC Price Action: AMC has traded as low as $5.26 and as high as $72.62 over a 52-week period.

The stock was up 10.1% at $18.08 at time of publication.

Photo: ajay_suresh from Flickr.