The AMC (NYSE:AMC) show must go on, and it is looking like the theater is packing full in anticipation. With AMC’s unlikely moonshot continuing, there are a number of stories driving AMC stock up today.
Of course, AMC is getting a boost from Reddit. Members of the r/AMCstock subreddit are pushing up the play wherever they can. The message board has grown in terms of subscribers by nearly 30,000 in the last month. The growing user base indicates that support for AMC stock is not only still present, but growing. Plus, with so many people on the Reddit stocks train, talk of another short-squeeze rally is gaining momentum.
Don’t believe me? Just consider the dedicated posts on Reddit each and every day.
The Oscars Gives AMC Stock a Boost
The Oscars are another likely candidate for the upward AMC stock momentum today. The biggest award show in the film industry took place just last night. Even with all-time-low viewership, the event still managed to take over social media today. With many award-winning movies looking forward to further theatrical releases, many are talking about theaters once again.
Another reason AMC is on the move today is because of a theater-promotion campaign, which saw some major airtime during the Oscars. Fronted by Matthew McConaughey, the #TheBigScreenIsBack commercial, which saw airtime last night, is the first of many efforts to get people into cinema seats. The television spot, which has been getting lots of love on r/AMCstock since, thanks movie theater employees for their efforts in getting cinemas operating again. It recognizes those who were furloughed as a result of the pandemic, and reminds viewers that the best way to watch a movie is in a theater seat.
While it’s not a direct promotion of AMC, you can bet which theater many investors are thinking of when they think about the movie industry.
AMC stock is up 12% today after a busy weekend for film.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.