AMC shares are on pace for their largest daily percentage gain since Oct. 6
Shares of AMC Entertainment Holdings Inc. were up 8.1% Monday and are set to break a three-day losing streak. The stock is also on pace for its largest daily percentage gain since Oct. 6, when it gained 11.6%.
The movie-theater chain and meme-stock darling has been reaping the benefits of Taylor Swift’s record-breaking concert film, which opened Oct. 12. “Taylor Swift: The Eras Tour,” was expected to cross $200 million at the global box office on Sunday, according to Comscore data.
“Taylor Swift: The Eras Tour” was breaking records even before its scheduled release on Oct. 13, prompting more showings to be added. On Oct. 11, Swift tweeted that early access showings would be held on Oct. 12, citing “unprecedented demand” for the movie.AMC shares have fallen 72.5% in 2023, compared with the S&P 500 index’s SPX gain of 8.7%.
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