AMC Entertainment Holdings Inc.’s stock rose 6.5% before the opening bell on Tuesday, leading fellow meme stocks GameStop Corp. and Bed Bath & Beyond Inc. higher.AMC’s AMC, +7.09% stock has rallied since the company reported its 12th consecutive quarterly loss last week, sending its shares falling 7.7% last Wednesday. The movie theater chain and meme stock darling ended Monday’s session up 1.9%, outpacing the S&P 500 Index’s SPX, +1.55% decline of 0.9%.
The company’s stock has been boosted by weekend box office numbers. On Monday AMC said more than 4.9 million people went to its theaters over the Thursday-to-Sunday weekend, marking the fourth-highest attended weekend of the year. Weekend box office performance was lifted by Marvel’s “Black Panther: Wakanda Forever,” the company said.
The APEs made their trading debut in August, sparking volatility and heralding the latest chapter in an eventful journey that took the cinema chain from a beleaguered pandemic victim to meme-stock phenomenon.The dividend hit an intraday low of $1.25 on Nov. 9 and an intraday high of $10.50 on Aug. 22. The APEs have fallen 76.2% since their debut.
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The Container Store Group appoints new COO and CMO - Dallas Business JournalDhriti Saha previously served as chief information officer for the company while Stacey Shively most recently served as SVP and head of merchandising and product development for Bed Bath & Beyond.
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