Shares of movie theater operator AMC Entertainment (NYSE: AMC) reached a high of 12% in early trading on Jan. 6. Tanger Factory Outlet Centers (NYSE: SKT), which, as its name implies, owns factory outlet centers, peaked at nearly 11%. And amusement park operator Six Flags Entertainment (NYSE: SIX) hit a high of roughly 10%.
At 1:30 p.m. EST, Tanger and Six Flags were still holding on to their gains, but AMC’s advance had been cut roughly in half. The story goes back to early 2020, but today’s moves were driven by the runoff elections held in Georgia on Jan. 5.