What's Going On With AMC Shares Skyrocketing Monday?

AMC Entertainment Holdings Inc AMC shares are trading higher by 24.46% to $7.71 Monday afternoon. Strength may be in possible anticipation of tomorrow's fourth-quarter earnings release.

Also, per a report from Seeking Alpha, a Delaware judge late during Monday's session agreed to hold preliminary injunction hearing on April 27 to block the conversion of AMC Preferred Equity APE into common shares. The prior scheduled March 14 vote on share conversion will still be allowed to take place.

According to analyst consensus estimates, AMC is expected to report revenue of $1.01 billion on an EPS loss of 19 cents.

AMC is also trending across social media platforms and is the top-trending ticker on StockTwits.

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AMC may also be experiencing a short squeeze. AMC has a total share float of 516.051 million, of which 118.270 million shares are sold short, representing 22.92% of shares sold short.

According to data from Benzinga Pro, AMC has a 52-week high of $34.33 and a 52-week low of $3.77.