AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading higher on above-average volume Thursday amid a resurgence of retail investor interest.
What’s Going On: AMC is trending across social media platforms as traders continue to highlight high short interest in the stock. 21.63% of the float is currently sold short, according to Benzinga Pro.
AMC was also among the most mentioned stocks on Reddit’s r/wallstreetbets over the last 24 hours and it’s the top trending ticker on Stocktwits at the time of writing.
AMC’s average session volume over a 100-day period is approximately 25.21 million, according to Benzinga Pro. Thursday’s trading volume exceeded 66 million at last check.
What Else: On Tuesday, CEO Adam Aron took to Twitter to announce that the movie theater chain has started selling merchandise as a result of shareholder suggestions. There appears to be optimism on social media surrounding a potential sales boost during the holiday season.
Check This Out: This Is What Whales Are Betting On AMC Entertainment
AMC said it set a domestic record for the biggest November opening in company history on the strength of the highly anticipated “Black Panther: Wakanda Forever.”
“Avatar: The Way of Water” is set to make its theatrical debut on Dec 16. The original “Avatar” film is the highest-grossing film of all time at the global box office.
AMC Price Action: AMC was halted for volatility Thursday morning.
The stock was up 22.1% at $8.83 at time of publication, according to Benzinga Pro.
Photo: Paul Sableman from Flickr.
