AMC Entertainment Holdings Inc shares moved past the $10 psychological mark in Monday’s after-hours session, spiking over 5%.
What Happened:There were no significant triggers for the movement in the shares. AMC continues to remain popular as a meme stock among retail investors.
AMC was the fourth most mentioned stock on r/WallStreetBets over the past 24 hours to press time, attracting 250 mentions on the forum, according to data obtained from Quiver Quantitative.
Tesla Inc and GameStop Corporation were ahead of AMC in terms of mentions, but Palantir Technologies Inc was the most mentioned on WallStreetBets.
AMC shares spiked 5.13% in Monday’s after-hours session to $10.24 after closing 2.42% higher at $9.74 in the regular session.
AMC is also the top-trending ticket on Stocktwits at press time.
Why It Matters:Last week, AMC CEO Adam Aron said that the company is staring at an “increasingly favorable environment.”
AMC attracted nearly 7 million U.S. and international moviegoers to its cinemas in the first quarter, as per the CEO. On a year-till-date basis, AMC shares have spiked 359.14%.