AMC Entertainment reported a 70% jump in Adjusted EBITDA to $321 million, fueling a meme stock rally.
AMC Entertainment (NYSE:AMC) shares climbed 27% to $2.46 on July 20, 2026, after posting record Q2 revenue and profit, driven by Christopher Nolan’s *The Odyssey*. Adjusted EBITDA surged 70% to $321 million, the highest in the company’s 106-year history.
The rally extends a 32% weekly gain and 58% year-to-date increase, reviving meme stock fervor last seen in 2021. Options activity underscored retail speculation, with 300,000 contracts traded—five times the 30-day average—and a put/call ratio of 0.27.
Despite the speculative surge, fundamentals improved, separating this rally from past meme-driven spikes. The company’s earnings beat expectations, contrasting with earlier volatility tied to retail trading alone.