Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Monday, July 24th, and I'm your host Julie Morgan.

AMC is up more than 60% pre-market following Friday's court ruling.

Barbenheimer movie weekend was a success,

and the US Senate OK's legislation banning strategic petroleum reserve sales to China.

Here's what's making headlines today. One of the biggest stock movers for the day is AMC entertainment.

And yes, Barbinheimer was this weekend, we'll get to that in a moment, but the rise in AMC has nothing to do with the two movies.

AMC is up more than 60% pre-market and was up as much as 100% Friday after hours.

This happening after a surprising win for the company's ape army of mean stockholders.

The Delaware Court of Chancery halted the conversion of apes into AMC common stock.

But according to an open letter to investors from AMC's CEO, posted to Twitter,

the company has since submitted a revised proposal

to convert apes into AMC Common Stock.

AMC hopes the court will approve the revision

and they'll be able to implement it as soon as possible.

Barbenheimer Weekend was great for the box office with two blockbuster films that resulted in the strongest weekend of

2023 for theaters in North America. It also led to the fourth biggest weekend

ever in the US according to Comscore as well as the only weekend in the top 10 of all time that did not include a movie

from the Jurassic Park Marvel or Star Wars franchises.

Warner Brothers Barbie gross $155 million in the US and Canada,

while Universal's Oppenheimer brought in 80.5 million dollars domestically

between Friday and Sunday.

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