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Aug. 8, 2022, 9:12 a.m. EDT

AMC stock rallies toward longest win streak in more than a year

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By Tomi Kilgore

Shares of AMC Entertainment Holdings Inc. /zigman2/quotes/200235402/composite AMC +2.21% surged 5.8% in premarket trading, putting them on track for a sixth-straight gain to the highest close in more than four months. The "meme" stock had already rocketed 52.3% as it rose every day last week, to post the biggest weekly gain since it soared 83.4% during the week ended June 4, 2021. The rally comes as the movie theater operator announced last week it will issue a special "APE" dividend, in the form of AMC Preferred Equity Units that will trade on the New York Stock Exchange. Separately, J.P. Morgan analyst David Karnovsky said in a note to clients Monday about fellow movie theater operator Cinemark Holdings Inc. /zigman2/quotes/200040530/composite CNK +1.98% that recent "robust domestic box office results" have made him "incrementally more constructive" about the potential recovery beyond 2022. Meanwhile, fellow "meme" stock GameStop Corp.'s /zigman2/quotes/203755179/composite GME +2.99% gained 2.8% premarket, putting them on track for a ninth-straight gain, which would be the longest win streak since since it rose for 10 straight days through March 28, 2022. Shares of AMC have lost 18.5% year to date and GameStop has advanced 7.9%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.59% has shed 13.0%.

/zigman2/quotes/200235402/composite
US : U.S.: NYSE
$ 7.62
+0.17 +2.21%
Volume: 14.07M
Sept. 28, 2022 12:22p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$3.89 billion
Rev. per Employee
$124,591
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/zigman2/quotes/200040530/composite
US : U.S.: NYSE
$ 12.39
+0.24 +1.98%
Volume: 719,611
Sept. 28, 2022 12:22p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$1.43 billion
Rev. per Employee
$144,128
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/zigman2/quotes/203755179/composite
US : U.S.: NYSE
$ 26.91
+0.78 +2.99%
Volume: 1.27M
Sept. 28, 2022 12:22p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$7.96 billion
Rev. per Employee
$505,408
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/zigman2/quotes/210599714/realtime
US : S&P US
3,705.30
+58.01 +1.59%
Volume: 2.22B
Sept. 28, 2022 12:22p
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