AMC Entertainment Stock Rises WIth Holiday Releases of ‘Wicked’ and ‘Gladiator II’: Retail Sentiment Upbeat

AMC Entertainment Inc. ($AMC) shares have soared more than 10% this month, reaching a month-high on Friday on the back of major movie releases leading up to Thanksgiving week, cheering up the retail mood.

AMC said in a recent press release it saw the "highest domestic revenue from admissions revenue plus food and beverage, including merchandise, on the weekend before Thanksgiving in AMC's 104-year history."

It also witnessed the highest domestic admissions revenue on the weekend before Thanksgiving since 2019, and the third highest domestic admissions revenue on the weekend before Thanksgiving in AMC’s history.

AMC’s success was driven by the strong opening weekends for both "Wicked" and "Gladiator II." The highly anticipated MOANA 2 opened on Wednesday, Nov. 27, and at ODEON Cinemas in the UK on Nov. 29.

Retail sentiment on the stock improved to 'bullish' (58/100) from 'neutral' (45/100) last week.
 

AMC sentiment and message volumes on Nov 29 as of 12:05 pm ET

"It is thoroughly satisfying that fully 4.6 million people graced our AMC Theatres in the U.S. and Odeon Cinemas abroad over the just completed four days Thursday to Sunday. What a wonderful way to head into what we expect will be a busy and entertaining holiday moviegoing season," Adam Aron, AMC chairman and CEO, said in a statement.

AMC is a meme stock that reached a peak during the meme mania, going past the $700 mark in mid-2021.

It operates 900 theaters and 10,000 screens across the globe.

AMC stock is down 18% year-to-date. 

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