AMC stock continues to rally after announcing Popcorn collaboration with Walmart ahead of earnings

Shares of AMC Entertainment Holdings Inc. AMC,
+7.78%
Rebounded 2.8% in Tuesday morning trade, adding to a 22.7% gain in the previous session after the cinema operator announced a popcorn collaboration with Walmart Inc. WMT.
+0.30%
AMC said all of its new lines of AMC Perfectly Popcorn ready-to-eat and microwave popcorn will go on sale exclusively in discount retail giant Walmart’s stores March 11, “just in time for the Academy Awards, which airs March 12 becomes”. The stock’s rally comes just before AMC reports its fourth-quarter results, which are expected after the market close. “On March 11th, Oscars weekend, we will enter the multi-billion dollar retail popcorn industry with popcorn for the home that offers the authentic taste of real movie popcorn,” said Adam Aron, Chief Executive by AMC. “We’re particularly excited to do so in an exclusive launch with Walmart, the largest retailer in the United States.” The stock has now more than doubled and is up 103.9% since it was posted on Dec. 28 2022 at the lowest price ($3.84) since February 2021. It’s still down 32.5% over the last 12 months, while the S&P 500 SPX,
-0.13%
has decreased by 9.1%.