AMC Entertainment Holdings Inc (NYSE: AMC) stock hit a new all-time low at $1.64, despite reporting its strongest pre-Christmas weekend since 2021. The bearish price action contrasts with the success of Avatar: Fire & Ash, which drew over 4 million guests and grossed $88 million domestically, driven by premium formats like 3D.

Billionaire Robert Citrone of Discovery Capital Management has taken a contrarian position, acquiring 32.75 million shares of AMC at an average price of $2.16. This distressed bet represents nearly 4% of his portfolio, signaling confidence in the company’s future performance.

AMC recently sold the majority of its stake in Hycroft Mining Holding Co (NASDAQ: HYMC), netting $24.1 million to reinvest in its core exhibition business. CEO Adam Aron has returned to full-time duties after a minor stroke in November, navigating financial challenges as an amended note agreement allows for up to $150 million in stock offerings starting in February 2026.

Read more at Yahoo Finance: AMC Entertainment Stock Hits All-Time Low Despite Avatar Success, Billionaire Buy-In