Why Movie Theater Stocks Soared Today

Movie theater stocks including AMC Entertainment (NYSE: AMC), Cinemark Holdings (NYSE: CNK), Marcus (NYSE: MCS), and National Cinemedia (NASDAQ: NCMI) were all moving higher today after the May employment report was much better than expected. It was a strong sign that the economic recovery is well under way, and investors reacted enthusiastically, sending shares of hard-hit stocks like movie theaters and other consumer discretionary companies surging. As of 11:16 a.m. EDT, AMC shares were up 10%, Cinemark had gained 8.8%, Marcus was up 12.8%, and National Cinemedia was trading up 14.9%.