AMC Stock Falls 2.9%; App Outage Tests Channel Tied to 52% of U.S. Attendance

AMC Entertainment Holdings, Inc. hovered close to $2.66 ahead of Wednesday’s market open. The stock rose 17.6% over Monday and Tuesday. Trading on the NYSE core session begins at 09:30 EDT.

Shares in AMC Entertainment Holdings climbed 7.5% early Wednesday. However, the company's adjusted diluted share count expanded at a pace exceeding its all-time high adjusted EBITDA.

AMC Entertainment Holdings, Inc. lifted quarterly attendance per average screen by 15.4%, while its weighted-average adjusted diluted share count increased 79.2%. The divergence helped drive the stock after Monday’s 26.8% surge.

AMC Entertainment Holdings last traded at $1.87 after Monday’s U.S. market close, about 11% below the $2.10 paid by institutional investors in its June share sale. The sharper balance-sheet signal is that the deal’s roughly $11 million placement fee exceeds a full year of the $7.7 million in cash interest AMC says it will save by retiring debt; market commentator Jim Cramer said the turnaround had a “limited shelf life because the balance sheet was heinous.”

AMC Entertainment Holdings shares climbed almost 10% Wednesday after Macquarie raised its price target, giving traders new reason to look at one of the market’s most volatile movie theater names.

c shares are set to reopen Monday after a fast holiday-shortened rally. Investors are turning to Disney and Pixar’s “Toy Story 5” for the next sign on the theater recovery trade. The New York Stock Exchange is closed Friday for Juneteenth National Independence Day.

AMC Entertainment surged 22% to $2.12 on Monday as over 116 million shares traded. The theater chain posted its biggest May crowds since before the pandemic. The stock move stood out in a sluggish session, with investors watching to see if a stronger list of films this summer can bring in the cash AMC needs as it carries debt.

AMC Entertainment Holdings climbed into the weekend, rallying sharply Friday as investors responded to better theater traffic and a packed June film calendar. AMC shares finished Friday at $1.73, up 9.49%. The stock hit $1.79 at its peak in active trading, with about 42.3 million shares changing hands.

AMC Entertainment Holdings stock finished up 6.25% at $1.36 on Monday after a slide last week. Traders circled back to the company’s efforts on box office and its balance sheet. AMC shares ranged between $1.24 and $1.40 for the day. Trading volume came in at about 20.4 million, short of its 32 million average.