AMC Stock rises by 12%: Financials Provide Robust Surge

The company shares were changing hands at a market price of $6.80.
AMC stock is one of the most searched stocks globally.

AMC Entertainment Holdings Inc. is an American movie theater chain founded in Leawood, Kansas, United States. It is the largest movie theater chain in the world and has 950+ theaters globally.

AMC stock price (NYSE: AMC) surged by 11.84% and was trading at $6.80 as of February 6, 2023. The closing price before today’s session was $6.08, with a market capitalization of $3.51 billion.

AMC price underwent an impressive hike in the last seven-day trading session, and AMC stock prices have risen by 28.79% since last month. Stock prices surged by 70.85%.

The rising prices of AMC stocks are creating a tongue competition in the market for its competitors. Imax Corp Stock prices struggled by 1.17% last trading session and had traded at $17.69.

The entertainment giant has 17,122 employees across the United States and Europe. The stock has been trading well over the last one month.

Further, AMC is likely to become more lucrative after the release of movies like Ant-Man and the Wasp: Quantumania and Oppenheimer in 2023, some of the most awaited titles.

According to Reuters, AMC Theatres is planning to revise ticket prices based on seat locations. The newly launched initiative is termed as “Sightline at AMC.”

The prices will be segmented into three seat-pricing options. First is the standard sightline, described as “seats that are the most common in auditoriums and are available for the traditional cost of a ticket.” Second category prices will be less than the first segment “ seats in the front row of the auditorium, as well as select ADA seats in each auditorium, and are available at a lower price than standard sightline seats.” The third segment will be “seats in the middle of the auditorium and are priced at a premium to standard sightline seats.”

AMC’s financials

In the first quarter of 2022, AMC generated $785.70 million in revenue and booked -$337.40 million as net income. In the second quarter of 2022, revenue surged to $1.17 billion, from which net income was -$121.60 million.

AMC revenue decreased in Q3 of 2022; the recorded revenue was $968.40 million, net income was -226.90 million.

Cinema footfall fell sharply through the pandemic. This was the time when a lot of users started switching towards OTT platforms like Netflix, Amazon and several others. AMC’s latest financials and numbers across various other theaters and the unprecedented footfall reported for South Asian movies shows that there are a lot of loyal cinema buffs out there.

Technical Levels

Support Levels: $4.96 and $3.68

Resistance Levels: $9.18 and $11.03

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.