Movie theaters have been suffering during the pandemic, but this may be changing.
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January 25, 2021 1 min read
This story originally appeared on Market Beat
For a stock that set an all-time low during the first week of 2021, January is actually turning out to be a pretty ok month for cinema giant AMC Theatres (NYSE: AMC). Investors will be hoping for a return of some kind of stability this year after buckets of volatility last year saw shares whipping up and down.
They had to watch the stock fall more than 70% twice in a year as movie theatres found themselves on the front line of the pandemic, while they experienced three triple-digit percentage moves to the north as well. This latest move, which has shares up more than 60% on the month, has been underpinned by the highest daily volume numbers the stock has ever seen. Last week, 770 million shares traded hands, a whopping 5 times and some change higher than the previous record of 145 million set last May.