AMC Stock Rises As Thanksgiving BO Smashes Records With ‘Moana 2,’ ‘Wicked,’ and ‘Gladiator 2’: Retail Cheers
By Stocktwits Inc | First Published Dec 2, 2024, 11:43 PM ISTAMC’s success was driven by the strong opening weekends of "Moana 2," "Wicked" and "Gladiator II."
AMC Entertainment Inc. ($AMC) shares were up nearly 2% on Monday after the movie theater chain said it set new records for the five-day Thanksgiving holiday, lifting retail sentiment.
AMC said on Monday it saw nearly 8.8 million moviegoers attend a movie at an AMC theater between Wednesday to Sunday during the Thanksgiving week.
Friday, November 29, was AMC’s second highest total revenue day in terms of admissions revenue plus food & beverage revenue.
AMC’s success was driven by the strong opening weekends of "Moana 2," "Wicked" and "Gladiator II."
Retail sentiment on the stock improved to 'extremely bullish' (58/100) from 'neutral' (45/100) a day ago. Message volumes increased to the 'high' zone from 'low.'
In the U.S., AMC set several new all-time attendance and revenue records in what it termed as its "biggest and busiest" five-day Thanksgiving holiday period in AMC’s 104-year history. The record was based on attendance, admissions revenue, and food and beverage revenue. The last time the company reached a similar milestone was in 2018.
"This 5-day Thanksgiving period in 2024 was one for the ages...Apparently, movie fans decided in droves that Thanksgiving dinner is made all the better when accompanied by some delicious AMC popcorn, an ice-cold Coca-Cola, and a great film to watch as showcased on AMC’s huge silver screens," AMC chairman and CEO Adam Aron, said in a statement.
AMC shares reached a peak during the meme-stock mania of 2021, going past the $390 mark (split-adjusted), but have fallen more than 98% since then.
The company operates 900 theaters and 10,000 screens across the globe.
AMC stock is down 18% year-to-date.
For updates and corrections email newsroom[at]stocktwits[dot]com.<
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