AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading higher. The company on Monday announced that it recorded its most attended and highest grossing weekend of 2024.
What Happened: AMC announced that the weekend spanning June 14 to June 16 was its busiest of the year based on attendance and admissions revenue. The strength was due to the opening weekend of "Inside Out 2" and strong holdover from "Bad Boys: Ride or Die."
Over one million people visited AMC theaters in the United States on Friday, Saturday and again on Sunday. The total U.S. attendance at AMC theaters was approximately 3.8 million over the weekend.
AMC international theaters also saw strength with attendance up by double digit percentages compared to the same weekend last year.
"Once again, the moviegoing public has demonstrated that the magic of the movies and the theatrical experience is alive and powerful," said Adam Aron, chairman and CEO of AMC.
"We extend our gratitude to the filmmakers of INSIDE OUT 2 and BAD BOYS: RIDE OR DIE, and to our studio partners at Disney and Sony Pictures for delivering these incredible films to moviegoing audiences."
Don't Miss: 'Inside Out 2,' 'Moana 2,' 'Deadpool & Wolverine': Can These 3 Movies Bring Back Disney's Box Office Billions?
AMC and other stocks with high short interest have seen increased retail investor attention since GameStop Corp (NYSE:GME) trader Keith Gill, also known as "Roaring Kitty," made his return to social media following a three-year absence. According to data from Benzinga Pro, 19.75% of AMC's float is currently sold short.
AMC Price Action: AMC shares were up 1.61% at $5.07 at the time of publication, according to Benzinga Pro.
Photo: Paul Sableman from Flickr.