May 28 (UPI) -- The major U.S. indexes closed with gains for the day and week Friday after shares of AMC fluctuated, rising by as high as 38% at one point but eventually closing down by 1.5%.
AMC Entertainment Holdings Inc. closed at $26.10, and despite the Friday drop, shares have had a nearly 1,200% gain over the same time last year. The rally brought the company's market capitalization to more than $12 billion amid a push among Reddit investors, similar to the GameStop short squeeze earlier this year.