AMC's stock is up 2,000% this year. But the theater chain's problems aren't solved
CNN
AMC's comeback, and then some — its stock price surged to a record high on Wednesday — has been fueled by Reddit's army of retail investors as well as some legitimate good news about customers returning to movie theaters. But that doesn't mean that AMC and the rest of the industry's inherent problems are solved.
Shares in the company, the world's largest theater chain, are up roughly 2,000% this year. On Wednesday alone, AMC's stock skyrocketed 120%, peaking at just over $70, before sliding back. The company is taking advantage of its sky-high stock price, launching plans to raise gobs of money that will keep AMC marquees lit for the near future. But the stock price slipped on Thursday after the company said it would sell 11.5 million shares.
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