AMC shares up on cinema window deal

AMC Entertainment Holdings Inc’s shares rose 9 per cent on Tuesday as retail traders fueled another rally in the theater operator’s stock following its better-than-expected quarterly results and a deal with Warner Bros to delay same-day streaming releases.

AMC was the top trending stock on social media site Stocktwits, and its share price rose to $37 in premarket, recovering some of a $20 dip since early June and valuing the company at 15 times what it was in January.

While the results topped Wall Street estimates, the company still posted a huge loss as theater chains worry that the Delta variant could derail a nascent recovery.