Stock AMS Entertainment (AMS 0.20%) remained virtually unchanged in Tuesday morning trading after a long holiday weekend when toy story spin off Light year in many ways the bomb at the box office.
Tea Disney (TO TELL -0.34%) The film was expected to gross $70 million to $85 million this weekend, with $135 million worldwide, but instead it was only able to gross $51 million in the US and another $35 million worldwide.
After the rapid rise Top Shooter: Maverick as well as Jurassic World: DominionAMC hoped the family movie would be like Light year could invite the kids over the holiday weekend and help keep the cinema chain’s momentum going.
AMC, as the world’s largest theater operator, depends a lot on being able to bring people back to the movies. An already declining business before the pandemic, in the midst of the pandemic, it was on the verge of bankruptcy.
Since then, however, he has attempted to recover, albeit through means sometimes entirely unrelated to cinema.
As a stock trader’s favorite of memes, AMC often focuses more on online chatter and social media mentions (such as rumors of a vast pool of stocks floating around in the market preventing stocks from rising) than on the fundamentals of its business.
CEO Adam Aron, however, dissuaded investors from that rumor last week, saying, “As I said, we haven’t seen any credible information about so-called synthetic or fake stocks.” On a market-friendly day when the Dow Jones Industrial Average rises more than 500 points, it’s bad news that theater stocks can’t go green.