Jul. 20, 2021 6:50 PM ETAMC Entertainment Holdings, Inc.
By: Carl Surran, SA News Editor
Social media favorite AMC Entertainment (NYSE:AMC) closed +24.5% today, goosed by a late session volume spike that lifted final trading volume to ~166M shares, making it the second most actively traded stock on U.S. exchanges.
Possibly helping the stock was news after yesterday's close that AMC was planning to start operating cinemas in two high-grossing locations in Los Angeles next month.
Reuters reports 75.84M AMC shares were sold short as of Monday's close, representing ~15% of its float, a decline of 4M shares over the last week, citing data from S3 Partners.
AMC shares have shed roughly a third of their market value since early June after touching a record high $72.62, but they are still up more than 20-fold YTD.
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