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Kkn
2021-07-21

Volatile

AMC Entertainment shares up almost 25% as trading volume climbs

(Reuters) - Shares in AMC Entertainment closed up 24.5% on Tuesday after a late session volume spike

AMC Entertainment shares up almost 25% as trading volume climbs

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With trading volume around 166 million shares it was the second most actively traded on stock on U.S. exchanges on the day.\nWhile the volatile stock was up sharply throughout the trading day it picked up more steam during the last hour of trading when it surpassed $40 for the first time since July 13.\nPossibly helping the shares on Tuesday was AMC's announcement late Monday that it was planning to start operating cinemas in two high-grossing locations in Los Angeles, starting in August and that it was in in active discussions with other property owners regarding use of currently closed locations.\nAlso AMC's shares have been boosted this year by their popularity among retail investors using social media forums such as Twitter and Reddit to encourage each other to buy the stock. 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AMC Entertainment shares up almost 25% as trading volume climbs

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