Despite coronavirus restrictions limiting its ability to actually open theatres, the company's stock price surged from $2 to almost $20. Throughout 2021, however, there has been scant correlation between the company’s fundamentals and its stock price.ĪMC stock jumped by almost 900% in January, as Reddit-inspired retail traders successfully squeezed the short positions taken by a number of major hedge funds. Company capitalises on ‘Meme stock’ status Furthermore, the AMC’s second-quarter revenue still stands well below the $1.5bn it enjoyed in the same period of 2019. Sceptics may well point to the shift in viewing habits engendered by the crisis as a cause for concern. Not only did it represent a marked improvement from the $19m generated in the second quarter of 2020 when the COVID-19 crisis devastated the film industry, but it also beat the $382m predicted by Wall Street. AMC Entertainment Holdings stock jumped in pre-market Tuesday trading after the world’s largest cinema chain reported better-than-expected second-quarter earnings. Instead of the 94 cents per share loss expected by analysts, the company reported a loss per share of 71 cents.Īlthough AMC still operated at a loss, the $444m (£320m) in revenue generated in the three-month period buoyed investor sentiment.
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