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Markets · Investing · Business
Finance
AMC Stock Is Up 73% This Year. Why Are You Still Laughing?
You're shaking your head, aren't you? Hear me out.
If your love affair with the local multiplex is rekindling again, you're not alone. Domestic box office receipts are currently 20% higher than they were at this point last year. Globally, there will be more theatrical releases this year that top $1 billion in ticket sales than in just one other year in cinematic history.
This rosy backdrop has delivered 73% year-to-date gains for AMC Entertainment (NYSE: AMC) shareholders. But zoom out, and the story becomes more horror than rom-com. It was five years ago this month that AMC rolled out its ad featuring Nicole Kidman singing the praises of moviegoing while walking into an empty theater.
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"Somehow, heartbreak feels good in a place like this," she said.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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