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Why did AMC Entertainment Holdings Inc. (AMC) stock surge on Tuesday?

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AMC Entertainment Holdings Inc (AMC) shares surged 6.19% in after-hours on Tuesday, November 02, 2021, and closed the daily trading at $41.19. Even in the regular trading session, AMC’s stock gained 4.64%. its shares have risen 1704.19% over the last 12 months, and they have moved up 7.60% in the past week. Over the past three months, the stock has gained 29.99%, while over the past six months, it has jumped 323.01%.

Let’s discuss its recent news and developments.


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AMC upcoming financial results announcement

AMC Entertainment Holdings, Inc will report its financial results for the third quarter ended September 30, 2021, after the market closes on Monday, November 8, 2021.

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New offer for AMC Investor Connect

On November 01, 2021, AMC Theatres announced a rewarding program for its self-identified shareholders through  Investor Connect. Existing and new participants who sign up by year-end for Investor Connect will be encouraged to come to AMC movie theatres in the United States in November, December, or January with the offer of another Free Large Popcorn, useable with the purchase of a ticket.

AMC update about October theatres statistics

On November 01, 2021, AMC Entertainment said that the final tickets for October 2021 are estimated to come in considerably higher than that of any previous month since February of 2020.

The company also confirmed that October 2021 ticket admission revenues at its movie theatre circuit in the U.S.  were the highest for any single month since February of 2020.

AMC new open caption feature

On October 15, 2021, AMC Entertainment launched an open caption format at 240 locations in 101 markets in the U.S., to expand its audience base. The format particularly targets those people whose native language is not English or who have hearing difficulties. Open caption showtimes are available on AMC’s mobile application and website for the participating locations.

Conclusion

Well, as of this writing there is no reason for its gains on Tuesday but as the Covid-19 pandemic is getting over, more and more people are going out and spending money and theatres and cinema business is also reviving, that could be the reason behind its recent gains and it can continue its positive performance in the coming trading session as well.

>> 7 Top Picks for the Post-Pandemic Economy << 

About the company

AMC is the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world with approximately 950 theatres and 10,500 screens across the globe.

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