$AMC Entertainment(AMC.US)$ shares are trading higher by 27% at $25.73 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.
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.