Here's Why AMC Entertainment Shares Are Popping Off

AMC Entertainment Holdings Inc AMC shares are trading higher by 5.99% to $5.66 during Thursday's session. The stock is trading higher on continued, marked strength following a strong weekend theater attendance over the prior weekend.

What Else?

AMC stock is also higher by 26% over the trailing five sessions amid the company announcing this week that it had set a record for revenue during an Easter weekend, Friday to Sunday.

AMC said last Saturday was the company's single highest revenue day in the United States since reopening in 2020.

From Friday to Sunday alone, AMC says more than 3.6 million moviegoers visited one of the company's theaters in the United States.

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AMC Chairman and CEO Adam Aron commented regarding the sales results on Monday morning: "The success of THE SUPER MARIO BROS. MOVIE is yet another shining example of the desire by U.S. moviegoers to come to the movie theatre to be entertained."

"I congratulate our friends at Universal and Illumination on the biggest movie of 2023 so far, and on creating and distributing a movie that is proving to be a huge hit with guests of all ages," Aron stated.

AMC may also be experiencing a short squeeze. According to data from Benzinga Pro, AMC has a total share float of 517.663 million, of which 127.210 million shares are sold short, representing 24.57% of shares sold short.

AMC has a 52-week high of $27.50 and a 52-week low of $3.77.