AMC Entertainment Holdings Inc (NYSE: AMC) shares are trading higher by 15.5% at $23.38 after the company's CEO Adam Aron discussed potential future investments to capitalize on the interest of retail investors.
Per a report by Reuters, Aron stated: "I'd like to think there will be more third-party external M&A announcements going forward where AMC can reach for the stars and intriguing investments that have potentially attractive returns".
"Transformational M&A is mandatory. Our shareholder base has given us capital to deploy with the clear expectation that we are ... going to do exciting things with the money they entrusted to us," Aron told Reuters.
See Also: AMC Entertainment CEO Vouches For More Deals
AMC shares may also be experiencing a short squeeze over the past week as shares have risen sharply by 47.2% over the trailing five sessions. According to data from Benzinga Pro, AMC has a total share float of 515.00 million, of which 101.33 million shares are sold short, representing 19.68% of shares sold short.
AMC is involved in the theatrical exhibition business. It owns, operates or has interests in theatres located in the United States and Europe.
AMC has a 52-week high of $72.62 and a 52-week low of $8.31.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read at Benzinga