Why AMC Entertainment Stock Jumped Before Earnings

Shares of beleaguered movie theater owner AMC Entertainment Holdings (NYSE: AMC) jumped more than 10% in early trading Monday, before settling down to about a 6% gain as of 10:20 a.m. EST. Wedbush Securities doubled its price target on the stock this morning, arguing that AMC has raised enough cash by this point to keep it solvent through at least midsummer. Wedbush also praised the steps AMC has taken to prepare itself for a reopening, installing air filtration systems in its theaters, establishing enhanced cleaning protocols, and spacing out seating to preserve social distancing, MarketWatch reports today.