AMC shines after taking National CineMedia stake

National CineMedia

18/05/2022 15:58

** Shares of AMC Entertainment Holdings  AMC.N  up 7.9% to
$13.92 in Weds trading
    ** Movie theater chain AMC has 6.8% passive stake in
National CineMedia Inc  NCMI.O , according to a regulatory
filing  urn:newsml:reuters.com:*:nL3N2X93IW  urn:newsml:reuters.com:*:nL3N2XA1OW
    ** "Meme stock" AMC one of the 10 "most active" stock
symbols in terms of messages in past 24 hours, according to
Stocktwits
    ** In March, after AMC revealed stake in miner Hycroft
Mining Holding Corp  HYMC.O , CEO Adam Aron said he would embark
on more "transformational" deals to capitalize on the interest
of retail investors  urn:newsml:reuters.com:*:nL2N2VU0HI
    ** AMC last week posted better-than-expected quarterly
revenue and a narrower loss, as the release of big-ticket films
such as "The Batman" drew crowds to movie halls  urn:newsml:reuters.com:*:nL3N2X13BJ
    ** YTD, AMC still down ~49% vs ~19% drop for Russell 2000
 .RUT 
    ** Of 9 analysts covering AMC, none rate "buy", 3 rate
"hold", six rate "sell" or "strong sell", per Refinitiv; median
PT $6

 (Reporting by Lewis Krauskopf)
 ((lewis.krauskopf@thomsonreuters.com; 646-223-6082; Reuters
Messaging: lewis.krauskopf.thomsonreuters.com@reuters.net,
Twitter: @LKrauskopf))