Shares of AMC Entertainment (NYSE:AMC) rallied on Tuesday after the movie theater chain announced surprisingly strong Labor Day weekend box office results.
As of 3:30 p.m. EDT, AMC’s stock price was up more than 6%.
So what
Over 2 million people headed to AMC’s U.S. theaters between Sept. 2 and Sept. 5, with an additional 800,000 moviegoers visiting its international locations. These results marked a record for Labor Day weekend sales. It also represented the first time AMC saw higher attendance — compared with the same period in 2019 — since the company closed its theaters during the early stages of the pandemic.
“This Labor Day weekend in the United States has been an important milestone for AMC as we steadily work to generate a recovery for our business,” AMC CEO Adam Aron said in a press release.
