What happened?AMC Entertainment shares (NYSE:AMC), rose 7.6% Monday after AMC Entertainment announced strong weekend traffic figures for its movie theatres.What are you waiting for?AMC reported that more than 2,000,000 people watched movies in its U.S. theaters from June 24 to June 27. An additional 500,000 moviegoers visited its international locations. AMC attributed the positive results to the interest in F9: The Fast Saga (the latest installment in Fast & Furious), which brought in $70 million in ticket sales.CEO Adam Aron stated in a press release that "the combination of widespread vaccinations and the release once more of blockbuster films is proving to have the magic formula for moviegoing." "We couldn't be more excited about the record-breaking weekend after reopening and the upcoming slate of blockbuster movies that will be released this summer and beyond."What now?AMC's traffic rebound comes at a critical time. The company was hit hard by theater closings caused by coronavirus and had to raise capital via stock and debt offering to survive. It is essential that its theater operations return to profitability if the company wants to be viable in the long-term. Investors believe that the weekend's results show that things are moving in that direction.
