Shares of AMC Entertainment (NYSE:AMC) are slightly higher in today’s trading session. This can be attributable to news that it will launch a line of popcorn with Walmart (NYSE:WMT). AMC has been looking for ways to transform itself by adding new sources of income.
Clearly, the company wants to become more than just a movie theatre chain. AMC currently earns a third of its revenue from food and beverage sales, so a line of popcorn makes sense as a way to capture business from people who prefer to watch movies at home. The snack will become available starting March 11 at select Walmart locations but will be in more than 2,600 locations by April.
AMC shares have been surging for the past five trading days. This has mostly been thanks to Monday’s news that the conversion of the APE units will be delayed.
