Why AMC Entertainment Stock Is Moving Higher Monday
Portfolio Pulse from Adam Eckert
AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading higher after the company announced its highest weekly admissions revenue in company history. This was driven by the releases of 'Barbie' and 'Oppenheimer'. The company also saw strong demand for 'Haunted Mansion', 'Mission: Impossible - Dead Reckoning Part One' and 'Sound Of Freedom'. AMC is set to report second-quarter financial results on Aug 8, with an expected loss of 5 cents per share on revenue of $1.268 billion.
July 31, 2023 | 2:41 pm
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AMC's stock is trading higher due to record-breaking weekly admissions revenue, driven by successful movie releases. This positive news may influence the stock's performance in the short term.
The record-breaking admissions revenue indicates strong demand for AMC's services, which is a positive sign for investors. This, coupled with the anticipation of the upcoming Q2 results, is likely driving the stock price higher.
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