AMC Stock recently joined the Russell 1000 as of last Friday at the end of the trading day due to the annual rebalancing. This is great news for AMC Stock as the Russell 1000 us a very respected index which puts AMC in the spotlight even more moving forward in the small cap world of stocks.
To refresh your memory, The Russell 1000 index is a very popular traded index which tracks the performance of the 1000 highest ranking companies across the stock market. Every year the Russell 1000 goes through a rebalancing and rotates stocks in and out each time depending on things such as total market cap for the company, trading volume and share price ect. When a company is added to such an index like the Russell 1000 it can lead to a ton of new buying pressure due to the heavily traded index.
AMC Stock surges over 13% on Monday, the week following the stock being added to the Russell 1000 index. AMC has about average trading volume which could change very soon as the stock begins to regain massive momentum in this market.
AMC Stock is also coming off many other major bullish catalysts like the hit movie Top Gun reaching $1 Billion in total revenue which is a massive win for AMC as a company.
Could this be the start of a major move for AMC in the up-and-coming week?