What In The World Is Going On With AMC Shares?

AMC Entertainment Holdings Inc AMC shares are trading higher by 11% to $14.15 Thursday morning. The company announced that the TAYLOR SWIFT | THE ERAS TOUR concert movie is premiering in October in the United States, Canada and Mexico.

What Happened?

AMC Theatres on Thursday announced the company is set to showcase the TAYLOR SWIFT | THE ERAS TOUR concert film starting October 13. Each U.S. AMC Theatre will offer a minimum of four daily showtimes on Thursdays through Sundays.

In a bid to make the event accessible to Taylor Swift's extensive fan base, adult tickets for the concert film will be priced at $19.89 plus tax, while children's and senior tickets will be $13.13 plus tax.

The company says the film will be available in IMAX at AMC, Dolby Cinema at AMC and other branded premium large format screens with their respective standard upcharges.

Anticipating high ticket demand, AMC says the company has expanded its ticket server capacity to accommodate over five times the current record for tickets sold in an hour.

See Also: Taylor Swift's 'Eras Tour' Sets New Records, Expands With 15 Additional U.S. Dates

What Else?

AMC shares are otherwise lower by 80% over the trailing year. Notably, the stock commenced trading under a 10-to-1 reverse split arrangement as of last Thursday's market opening. The company's AMC Preferred Equity Units, formerly traded as APE, underwent conversion into common stock on Friday.

For the unitiated, although AMC stock wasn't in immediate danger of delisting, companies often opt for a reverse stock split when their stock price has fallen significantly and they want to avoid delisting from stock exchanges that have minimum price requirements.

Following the conversion, the total AMC share count rose from roughly 542.2 million to 550 million shares. AMC stock has also fallen roughly 85% over the past year, despite several records at the box office.

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According to data from Benzinga Pro, AMC has a 52-week high of $107.50 and a 52-week low of $10.72.