AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading higher Monday amid mentions of the stock on social media as a potential short squeeze candidate as well as recent box office strength.
AMC shares have trended higher over the last month amid continued strength at the box office, which has been led by “Top Gun: Maverick,” “Minions: The Rise of Gru” and “Thor: Love and Thunder” over the past few weeks.
“Minions: The Rise of Gru” ranked second over the weekend, generating $26 million at the box office, while “Top Gun: Maverick” ranked fourth with $12 million.
See Also: Weakening ‘Thor’ Muscles Out ‘Crawdads’ And ‘Paws’ At Weekend Box Office
Traders continue to assess the possibility of a short squeeze. 19.66% of AMC’s float is currently sold short, according to data from Benzinga Pro.
AMC is set to report its second-quarter financial results after the market closes on Aug. 4.
AMC Price Action: AMC has traded between $52.79 and $9.70 over a 52-week period.
The stock was up 8.65% at $16.70 at time of publication.
Photo: Dave Dugdale from Flickr.
