AMC Entertainment Holdings Inc AMC shares are trading higher by 6.32% to $8.08 Tuesday morning in anticipation of the company's fourth-quarter earnings release.
The company also announced it is collaborating with Walmart on an exclusive launch of AMC's all new lines of microwave and ready-to-eat popcorn items in hundreds of Walmart locations around the United States. The company says on March 11, popcorn lovers can enjoy select AMC Perfectly Popcorn varieties, available on Walmart endcaps, just in time for the Academy Awards, which airs on March 12.
According to analyst consensus estimates, AMC is expected to report revenue of $1.01 billion on an EPS loss of 19 cents after the market close.
The stock also saw marked strength during Monday's session. 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.
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AMC is also again trending across social media platforms and is the top-trending ticker on StockTwits.
Amid social media mentions, 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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