AMC Shares Rise: What's Driving the Surge?

AMC Entertainment Holdings Inc. saw its shares climb on Thursday, catching the attention of investors. This rise is partly due to GameStop's CEO, Ryan Cohen, who recently bought a significant number of GameStop shares. Cohen's actions suggest he believes in the company's future, and this confidence seems to be rubbing off on AMC. AMC has been trying to bounce back after the pandemic. They're focusing on premium movie experiences and special events to attract more customers. The company operates thousands of screens worldwide and is working hard to recover from its financial struggles. AMC and GameStop have a history of moving together in the stock market. Both became popular among retail investors during the 2021 meme-stock frenzy. Traders often see them as risky but potentially rewarding investments, especially when it comes to short squeezes. AMC still has a high short interest, with about 18. 19% of its float sold short.Thursday also marked the one-year anniversary of Keith Gill, known as "Roaring Kitty, " last posting on social media. Gill was a key figure in the meme-stock surge, and his anniversary has sparked some nostalgia and chatter online. Looking at the numbers, AMC's stock is currently 5. 3% above its 20-day simple moving average but still below its 50-day and 100-day averages. This shows some short-term strength but longer-term weakness. Over the past year, shares have dropped by 50. 15%, bringing them closer to their 52-week lows. The Relative Strength Index (RSI) is at 41. 74, which is neutral, while the Moving Average Convergence Divergence (MACD) is above its signal line, indicating bullish momentum. This mix suggests that the stock's momentum is a bit confusing right now. As of Thursday, AMC shares were up 4. 97% at $1. 69. The stock faces key resistance at $2. 00 and support at $1. 50.