From Dow Jones & Company:

AMC Entertainment Holdings Inc.’s stock rose 1.8% after a six-day losing streak, providing some relief to investors. AMC has been on a rollercoaster journey since transforming into a meme stock phenomenon three years ago, raising $917 million in January 2021. Its latest equity offering raised approximately $350 million in December to reduce a debt burden of over $5 billion. The company has benefited from the popularity of concert movies, with the success of Taylor Swift’s “The Eras Tour” breaking box-office records. CEO Adam Aron expressed gratitude for Swift’s film, while also dismissing “prophets of doom” predicting AMC’s demise. Despite a 90.7% drop in the last 52 weeks, AMC’s stock regained some ground while the S&P 500 index gained 21.8%.



Read more: Meme stock AMC books second straight day of gains after run of record lows