The AMC (NYSE:AMC) the show has to go on, and it looks like the theater is full of anticipation. With the continuation of AMC’s unlikely moonshot, there are a number of stories pushing AMC stocks today.
Of course, AMC is getting a boost from Reddit. Members of the r / AMCstock subreddit push the game wherever they can. The bulletin board grew in terms of subscribers by nearly 30,000 last month. The growing user base indicates that support for AMC inventory is not only still present, but growing. Plus, with so many people on the Reddit stock train, talk of another near-term rally is gathering steam.
Do not believe me ? Just consider the dedicated posts on Reddit each day.
Oscars give AMC stock a boost
The Oscars are another likely candidate for the bullish momentum in AMC stocks today. The biggest awards show in the film industry took place last night. Even with a record number of viewers, the event still managed to take over social media today. With many award-winning films pending further theatrical releases, many speak of theaters again.
Another reason AMC is on the move today is because of a theatrical promotional campaign, which saw significant airtime during the Oscars. Led by Matthew McConaughey, the #TheBigScreenIsBack advertisement, which saw airtime last night, is the first of many efforts to get people into movie seats. The TV spot, which was get a lot of love on r / AMCstock since, thanks the movie theater employees for their efforts to get the movie theaters back up and running. He recognizes those who have been put on leave due to the pandemic and reminds viewers that the best way to watch a movie is to sit at the movies.
While not a direct promotion from AMC, you can bet what theater many investors think of when they think of the film industry.
AMC stock is up 12% today after a busy weekend for the movies.
At the time of publication, Brenden Rearick had (directly or indirectly) no position in any of the stocks mentioned in this article.