With AMC shares up 1,100% in 2021, company sells shares

The movie theater chain AMC is raising $230.5 million through an 8.5 million share sale, cashing in on the meme stock frenzy that has sent its stock price up more than 1,100% this year

The movie theater chain AMC is raising $230.5 million through an 8.5 million share sale, cashing in on the meme stock frenzy that has sent its stock price up more than 1,100% this year. Theaters and other beleaguered industries like restaurants and concert venues are anticipating the return of crowds over the next few months with the massive U.S. vaccination effort ongoing. John Krasinski’s thriller sequel “A Quiet Place Part II” opened over the Memorial Day weekend to a pandemic-best $48.4 million, according to studio estimates Sunday. All of Hollywood was watching those numbers for hints about what is in store for the delayed summer movie season. After largely sitting out the pandemic, or diverting to streaming platforms, a lineup of blockbusters are again queuing up. On tap are Warner Bros.′ “In the Heights,” Universals’ “F9” and Disney’s “Black Widow.”