AMC Theatres set a new attendance record over the Thanksgiving holiday, with 8.8 million moviegoers visiting from Wednesday to Sunday, driven by popular films like Disney's 'Moana 2', Universal's 'Wicked', and Paramount's 'Gladiator II'. This surge led to record highs in admissions and concessions revenue, surpassing previous Thanksgiving records from 2018. The 5-day holiday period also saw a record $420 million in box office revenue in the U.S. and Canada, highlighting a strong resurgence in moviegoing.
AMC Theatres has managed to avoid bankruptcy despite significant financial challenges, thanks in part to innovative strategies and partnerships, including a successful concert film with Taylor Swift. CEO Adam Aron has navigated the company through the pandemic, meme stock frenzy, and industry disruptions, while continuing to invest in theater upgrades and new revenue streams. The company faces ongoing financial hurdles but remains optimistic about future box office growth and profitability.
AMC CEO Adam Aron plans to address the company's recent stock performance during its Q4 earnings call on Feb. 28, following a series of record lows and a significant decline from its meme-stock peak. The stock has fallen 89.4% in the last 52 weeks, reflecting the challenges faced by the movie theater industry amid the lingering impact of the COVID-19 pandemic. Meanwhile, rival Cinemark Holdings Inc. also reported a wider-than-expected Q4 loss, causing its shares to fall.
AMC Entertainment's shares rose 4.1% on Monday, marking its longest winning streak since December 2023, with short interest at 10.91% of public float. The movie-theater chain, known as a meme stock, has recently hit record lows but rallied last week with a 10.9% gain. AMC's CEO expressed frustration over the stock's decline, as it has fallen 89% in the last 52 weeks compared to the S&P 500 index's gain of 21.4%.
AMC Entertainment Holdings' stock rallied over 10% on Tuesday, marking its largest daily gain since August. This comes after hitting record lows, with CEO Adam Aron expressing frustration over the decline. The stock's recent performance contrasts sharply with the meme-stock frenzy, during which it surged to an all-time high. Despite the recent rally, AMC shares have fallen 92.5% over the past 52 weeks, in contrast to the S&P 500 index's gain.
AMC Entertainment's shares closed at a record-low of $4.07, extending its losing streak to five days and marking a 91.6% fall in the last 52 weeks, reflecting the demise of its meme-stock status. CEO Adam Aron attributed the slide to the lingering impact of the COVID-19 pandemic on the movie-theater industry.
AMC CEO Adam Aron expressed dismay over the company's stock slide, attributing it to the ongoing impact of the COVID-19 pandemic on the movie-theater industry. The stock has hit record lows, signaling the end of its meme-stock status, and Aron has been active on social media, expressing gratitude to Taylor Swift and dismissing predictions of the company's demise. Meanwhile, NBA player Joel Embiid made headlines by scoring 70 points in a game, breaking a longstanding record.
AMC's stock hit another record low, closing at $4.70, down 4.3% and extending its losing streak to three days. The stock is down over 98% from its all-time high in June 2021, reflecting the decline of its meme-stock status. AMC has been addressing its debt burden and recently completed an equity offering, raising approximately $350 million. The company also entered into exchange agreements to issue shares in exchange for notes due in 2026. Despite this, AMC CEO expressed gratitude for the success of Taylor Swift's concert film, distributed by AMC. Analysts have mixed ratings for AMC, with four holding and three selling.
AMC Entertainment CEO Adam Aron revealed that he was the target of a blackmail plot, where an individual threatened to release personal information unless a payment was made. Aron reported the incident to the authorities, and an investigation is underway.
