: AMC jumps after report of possible Amazon interest

AMC Entertainment Holdings Inc.’s AMC stock jumped 15.6% Tuesday after the Intersect reported that Amazon.com Inc. AMZN is weighing an acquisition of the movie theater chain and meme stock darling. Citing multiple sources close to the discussions, the Intersect reports that Amazon is exploring a possible acquisition, although there is no certainty that the retail giant will make an offer. Over the past two years, AMC has been on a roller-coaster ride that took it from beleaguered pandemic victim to meme-stock phenomenon. AMC’s stock has risen 29.4% in 2023, outpacing the S&P 500 index’s SPX 3% gain. Last year AMC took aim at its massive debt burden with the launch of its ‘APE’ special dividend. The AMC Preferred Equity Units APE are up 4.9% this year.

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