The share prices for AMC Entertainment started their trading day with a strong push. In the recent trading session, shares for AMC Entertainment have jumped by 12%.
Stronger Jobs Report and Earnings Help Push AMC Shares
The share prices for AMC experienced a significant boost because of two main reasons. The first reason had a broader impact on most of the stock markets in the United States.
The reason was the strong employment growth rate in the United States in the month of July. The above-expectation jobs data proved to be responsible for boosting almost all the stock trading exchanges in the United States starting Friday.
However, the reason why AMC’s stock prices have jumped tremendously is due to the strong earnings data that the theater operator has reported.
AMC’s Strong Earnings
AMC reported that for the quarter, they were able to generate a revenue worth $1.16 billion. The revenue generated by AMC was in line with the estimated revenue posted by the analysts.
As for the losses, AMC posted that it faced 20 cents per share of loss in the respective quarter.
Another factor worth mentioning is a special dividend that has ended up bringing huge success to AMC Entertainment.
The company has announced that for the Class A common share, it is going to pay out the investors with Ape Units. It is an AMC preferred-equity unit that belongs AMC.
Listing of AMC Shares on NYSE
AMC has announced that it is planning to launch the preferred shares through the NYSE. The company has revealed that it is planning to launch the new shares with the ticker symbol “APE”.
The symbol adopted by AMC is an appreciation for the investor who prefers calling themselves “apes” while they follow the stocks and their trends.
GameSpot to Benefit from AMC’s Stock
It is being suggested that with the introduction of the new share, it would be GameSpot that would be able to benefit tremendously. GameStop is a major videogame retailer that is also publicly listed under the ticker symbol “GME”.
With the latest announcement, the share prices for GameSpot have also recorded positive growth. Then comes Bed Bath & Beyond with a ticker symbol of “BBBY”, which has also gained tremendously in the latest stock trading session.
As per data, the share prices for Bed Bath & Beyond have surged almost 30% in the latest trading session.
The share prices for AMC Entertainment are recording a significant push and they have even managed to cross the July-high benchmark.
So far, the share prices for AMC have surged significantly, as they have moved above $19.75. The share prices for AMC may surge and hit and cross the resistance level of $22 per share.