AMC Erases 2020’s Pandemic Loss Amid Retail Trading Stampede
- Shares more than quadruple to highest since October 2018
- AMC completes at-the-market offering, raising $305 million
A vehicle passes in front of an AMC movie theater in New York.
Photographer: Amir Hamja/BloombergThis article is for subscribers only.
AMC Entertainment Holdings Inc. surged Wednesday, wiping out all of last year’s pandemic losses, fueled by retail trader optimism after the cinema giant raised new funds this week.
The shares more than quadrupled to close at $19.90, the highest since October 2018. Volume was more than 22 times above the three-month average and the Wednesday’s move triggered six circuit-breaker trading halts.