AMC Entertainment’s AMC skyrocketed more than 12%, triggering a volatility halt to the upside on Monday afternoon. So, what’s driving the retail investor-favorite stock higher yet again?
The company announced Monday that it will explore plans to flex pricing on its seats depending on the location of the chair. Seats in the middle of the theater will be more expensive, while seats on the outside and aisles may be cheaper.
In addition to the news about the new pricing system, many other so-called “meme stocks” shot higher. For the most part, these names have high short interest and a dedicated following of retail investors.
Bed Bath & Beyond Inc’s BBBY traded higher by more than 90% at one point Monday afternoon. GameStop Corp GME also traded higher, but only by about 7%.
Photo via Shutterstock.