Why AMC Entertainment’s Stock Is Trading Higher Today

AMC Entertainment Holdings Inc (NYSE: AMC) is trading higher Tuesday after the company announced better-than-expected second-quarter financial results. 

AMC Entertainment reported a quarterly earnings loss of 71 cents, which beat the estimate for a loss of 93 cents. The company reported quarterly revenue of $444.7 million, which beat the estimate of $375.28 million.

AMC Entertainment said it raised $1.25 billion of new equity capital in the second-quarter, bringing its liquidity to more than $2 billion.

The company also announced plans to accept Bitcoin (CRYPTO: BTC) as payment for tickets. 

“Thanks to increased vaccination counts in the countries we serve, we started to see rising movie going demand, and we safely welcomed more than 22 million guests back to our theatres across the globe during the course of the second quarter,” said Adam Aron, chairman and CEO of AMC Entertainment.

Price Action: AMC Entertainment has traded as high as $72.62 and as low as $1.91 over a 52-week period.

At last check Tuesday, the stock was up 7.43{478333fef289f17d569c76970834c08f92d608302faf6c452490324ee355f13f} at $36.31.

Photo by samantha celera from Flickr.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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