AMC Entertainment Holdings Inc (NYSE:AMC) is trading higher Wednesday amid strength in reopening names after Pfizer Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) announced effectiveness of three doses of their vaccine against the omicron variant.

The companies said preliminary laboratory studies demonstrated that three doses of the Pfizer-BioNTech COVID-19 vaccine neutralize the omicron variant, while two doses show significantly reduced neutralization titers.

Data indicates that the third dose increases the neutralizing antibody titers by 25-fold compared to two doses. However, the companies said that two doses may still protect against severe disease.

Pfizer and BioNTech plan to continue developing a omicron-specific vaccine and expect it to be ready by March in case "adaptation is needed to further increase the level and duration of protection."

AMC Entertainment's average session volume is about 46 million. Wednesday's trading volume was already approaching 40 million at publication time, according to data from Benzinga Pro.

See Also: AMC Giving Away Free NFTs: Here's How You Can Get One

AMC Entertainment is involved in the theatrical exhibition business. The company owns, operates or has interests in theaters located in the United States and Europe.

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 6.44% at $33.03 at time of publication.

Photo: Paul Sableman from Flickr.