AMC Entertainment Stock Gains, Company to Bring 'Fan

© Reuters

By Sam Boughedda

— AMC Entertainment Holdings Inc (NYSE:AMC) shares are edging higher Monday morning, up over 2%, after it told investors that it will team with Disney to bring four "fan -favorite" movies back to the big screen November 12-14.

The American movie theater chain will show the movies at over 200 of its locations in the United States. The films will come from Walt Disney (NYSE:DIS) Animation Studios, Pixar Animation Studios, Walt Disney Studios, and Lucasfilm.

There will be surprise showings of the four films to celebrate the second anniversary of the at-home streaming platform Disney+. AMC, the biggest movie theater chain, will be hoping it can attract movie watchers back to cinemas as the Covid-19 pandemic continues to fade.

"Though I see many movies at home through Disney+, I love experiencing my favorites on the big screen and the surprise screenings will add to the fun. With Disney's phenomenal library of movies, it will be challenging to pick just four," said Elizabeth Frank, executive vice president for worldwide programming and chief content officer at AMC.

Shares of AMC rose to a high of $43.01 at the open. The move higher comes despite Wedbush downgrading the stock last week, stating that retail investors will "move on."

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