AMC Entertainment Holdings Inc.’s eager retail investors have vaulted the company’s market value to $14 billion for the first time, Bloomberg News reported. Shares extended an intraday rally to soar 49%, the most since late January, at 3:15 p.m. in New York, as the Leawood, Kan.-based company’s value jumped to a record. Volume was also high, with more than 600 million shares changing hands, more than four times the average of the past five sessions. AMC’s revival has been fueled by individual investors eager to save the movie theater industry after it raised more than $1 billion in financing to avoid bankruptcy over recent months. The stock is up more than 1250% year-to-date. Chief Executive Officer Adam Aron has embraced the Reddit-fueled rally and talked to new retail investors on conference calls. The stock has more than doubled since AMC reported quarterly results on May 6, adding more than $10 billion in value. Thursday’s milestone stands out against a market value bottom of $216.8 million, which was hit in April 2020.
