AMC Entertainment shares were up more than 16% in midday trading in the midst of an aggressive rally powered by Gozilla Vs. Kong‘s $285 million global box office that “destroys lingering concerns around theatrical window importance and demonstrates a solid path to resurgence,” according to one Wall Street analyst.In a note early Monday, Eric Wold of B Riley slapped a “buy” rating on the stock and raised his price target to $13 from $7.
The shares were changing hands at over $11 fueled not by Reddit weirdness this time around but concrete evidence of pent-up demand for the big screen that movie chains and supporters have predicted throughout the pandemic. (Retail traders egged on by Reddit chatroom WallStreetBets had bid the stock past $20
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