According to information from market data company BondCliQ, the bonds of AMC Entertainment Holdings Inc. bullish lately.
“The [AMC] It hasn’t been quiet on the bond front,” BondCliQ relationship manager John Brown-Christenson told MarketWatch. “In the last ten [business] Days there have been better selling on the short side, the 2026 bond, and more buying on the longer 2029 bond.”
This, Brown-Christenson explained, is typically a bullish sign.
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bonds have benefited from “[a] overall a better tone towards the fixed income market,” said Brown-Christenson.
Related: AMC shares are rising after rival Cinemark’s third-quarter profits fell
AMC was also in the spotlight as it reaped the benefits of Taylor Swift’s record-breaking concert film, which premiered on October 12. In addition to showing “Taylor Swift: The Eras Tour” in theaters, AMC is also the film’s theatrical distributor. AMC Theaters Distribution and sub-distribution partners Variance Films, Trafalgar Releasing, Cinepolis and Cineplex Inc. CPXGF,
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According to AMC, they have entered into agreements with movie theater operators representing more than 8,500 theaters worldwide to show the film.
The most active AMC net customer flow issues over the last ten business days.
BondCliQ
Against this backdrop, shares of the movie theater chain and meme-stock darling are up 9.9% over the past five days, better than the S&P 500 index’s SPX gain of 4.8% over the same period.
Last week, AMC shares rose after rival Cinemark Holdings Inc.’s CNK.
the top and bottom line figures in the third quarter, which were boosted by the performance of the summer blockbusters ‘Barbie’ and ‘Oppenheimer’.
Related: Shares of AMC are up more than 5%, on track for their longest winning streak in nearly four weeks
It’s been an eventful few months for AMC. After months of litigation, the company’s shares underwent a 1-for-10 reverse stock split in late August, and AMC also completed the conversion of its AMC Preferred Equity units to common stock.
In September, AMC completed a $325.5 million equity offering, which it says increases cash reserves, addresses liquidity issues and strengthens its balance sheet. AMC CEO Adam Aron has repeatedly warned that the company is facing liquidity problems.
AMC will report third-quarter results after the market closes Wednesday. Analysts polled by FactSet expect revenue of $1.26 billion and a loss of 25 cents per share.
Shares of AMC ended Monday’s session up 2.2%, extending their winning streak to three days, the longest since a five-day winning streak that ended Oct. 12.
Related: AMC’s debt/equity and late payments could be ‘red flags’, Creditsafe warns