AMC Entertainment Rises 7% In Pre-market On Better-than-expected Q2 Results

AMC Entertainment Holdings, Inc. (AMC) is currently trading 7% higher in pre-market hours following better-than-expected second quarterly results.

The movie-theater company had on Monday reported loss of $0.71 per share on revenues of $444.7 million as against market estimate of $0.93 loss on revenues of $375.28 million.

The stock is rallying in the context of the outperformance on both top-line as well as bottom-line. The second quarter of 2021 was transformational for the company as it raised $1.25 billion of new equity capital and also welcomed more than 22 million guests back to its theatres across the globe.

The Kansas-based company which through its subsidiaries, provides theatrical exhibition, movie screening, food distribution, online ticket booking, and other related services has traded in the range of $1.91 to $72.62 in the past 52 weeks. It closed Monday's trading at $33.80.

The scrip had skyrocketed to all time high of $72.62 in early June 2 after retail traders especially Redditors had endorsed and invested in it.

It is currently trading in pre-market at $36.46, up $2.66 or 7.87% from previous close.

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