AMC Shares Are Trading Higher: What You Need To Know

AMC Entertainment Holdings Inc. AMC shares have been notably volatile recently. The shares are trading higher Tuesday. Here’s what you need to know.

What To Know: AMC has been navigating through various significant developments. The company recently garnered attention following the success of Disney’s “Inside Out 2” at the global box office, surpassing $1 billion in revenue.

However, recent disclosures and activities involving key figures such as Keith Gill, known as Roaring Kitty, potentially could have also impacted AMC’s stock.

Gill’s disclosed stake in Chewy Inc. CHWY, alongside GameStop Corp. GME shares declining over 6%, may have contributed to some volatility in AMC’s stock price.

Financial Maneuvers: The company is in confidential discussions with lenders to potentially reduce debt and extend maturities, addressing concerns raised by its $2.8 billion in maturities due by 2026. AMC recently completed a capital raise of approximately $250 million through the sale of shares, leveraging renewed interest in meme stocks to bolster its financial standing.

What Else: Despite financial challenges, AMC reported better-than-expected results for the last quarter, narrowing its loss per share of 78 cents against estimates of 79 cents and surpassing revenue estimates of $871 million with actual revenue of $951.4 million.

AMC Price Action: AMC Entertainment shares closed up on Tuesday 3.37% at $5.21 according to Benzinga Pro.

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