BCFC/iStock Editorial via Getty Images AMC Entertainment (NYSE:AMC) stock rose more than 14% on Wednesday and, if the gains hold, are on track to post their best trading day of the new year. Class A shares of the world’s largest cinema chain rose 14.4% to $4.65 in morning trade. They are set to post their third straight positive session. AMC saw a turbulent 2022 in which its stock shed nearly 76% of its value. The year was beset by decades low box-office returns and a lack of major productions, along with a change in theatre attendance patterns due to the COVID-19 pandemic. The release of Disney’s (DIS) Avatar: The Way of Water late in December gave a much-needed jolt to the box-office and theatre attendance which has carried over into the new year. Directed by James Cameron, the sequel to his 2009 original has been a juggernaut at the box-office, having already earned more than $1.7B worldwide and showing no signs of stopping. AMC was a member of the so-called “meme stocks”, and that craze helped its shares surge in 2021, pulling the company from near-bankruptcy. AMC stock is rated sell across the board by Wall Street analysts, SA Authors and Seeking Alpha’s Quant rating system.
