AMC Stock Price: AMC Entertainment jumps as theater chain adds more locations

NYSE: AMC finally saw some life on Tuesday as stocks were lifted after a sluggish start to the week on Monday. Shares of AMC jumped higher by 10.19% and closed the trading session at $16.43. It was the largest gain so far in 2022 for the beleaguered meme stock, and despite the move shares are still down by more than 38% since the start of the year. All three major indices closed the session in the green as the NASDAQ led the way adding 1.28%, while the S&P 500 gained 0.84%. Meanwhile, the Dow Jones Industrial Average closed higher by 371 basis points on strong performances from Amgen (NASDAQ: AMGN), JPMorgan (NYSE: JPM), and American Express (NYSE: AXP).

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AMC did report some good news on Tuesday, as the theater chain is taking over a couple of prime locations from Arclight theaters. The two new theaters will be in San Diego and Washington DC, and is likely a part of the company’s long-term plan of making it through the ongoing pandemic. The company continues to take over leases of theater complexes that have closed down during the pandemic, and is reportedly still seeking out additional locations to add to its 950 global locations. 

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AMC is also holding another exclusive NFT giveaway for people who reserve tickets to the Batman movie through AMC’s website or mobile app. The company previously held giveaways for Spider Man: No Way Home and an initial giveaway for shareholders last year. NFTs or non fungible tokens are becoming popular collectibles for those who are interested in blockchain technology.

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