The AMC stock price has surged 2500% year-to-date with the mad rally driven by WallStreetBets retail investors over the last few weeks. AMC Entertainment is hinging its hopes on the reopening of theatres with the government lifting up the restrictions.
The past week saw the shares of AMC rise by 83.45% with that of Gamestop and BlackBerry also climbing by as high as 11.875% and 32.67% respectively.
AMC has become the new favorite after GameStop as both shares and other heavily shorted stocks have been pushed to new highs this year.
Shares of AMC Entertainment rocketed 47% in active pre-market trading today, as it was reported that Amazon is interested in acquiring the struggling movie theater chain.