- NYSE:AMC gained 6.37% during Wednesday’s trading session.
- AMC acquired seven new locations and is on the lookout for more.
- AMC Apes announce the AMC Crypto Token will be launched soon.
NYSE:AMC erased most of its losses from the previous session as investors digested the highest US inflation rate since 1981. On Wednesday, shares of AMC rose by 6.37% and closed the trading day at $18.53. A day after the Federal Reserve announced the highest inflation in decades, investors shrugged off the CPI report and sent the markets surging. All three major indices closed the session higher for the first time since last week. The Dow Jones re-gained 344 basis points, while the S&P 500 and NASDAQ climbed by 1.12% and 2.03% respectively during the session.
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AMC’s announcement of seven new theaters it acquired in the Eastern United States was clearly applauded by investors on Wednesday. The move added to the company’s recent acquisitions including new locations in major hubs like Chicago and Los Angeles. The COVID-19 pandemic definitely hit smaller theater chains a lot harder than it did AMC. The world’s largest cinema chain is actively looking to add further locations to its portfolio to build on its global presence of more than 10,500 screens.
AMC stock price
In other AMC news, the Apes have announced they are set to launch the AMC Token which will trade under the crypto symbol TAMC. The token will be made available via the Fair Launch site, which means there will be no ICO, pre-sale, or seed round. All traders will have the opportunity to buy the token as soon as it launches on the ERC-20 Ethereum network. The token will be available on April 30th.
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