AMC stock surged 66% after "Dune: Part Two" release, despite previous struggles

From Investor’s Business Daily: 2024-05-13 14:19:00

AMC stock skyrocketed 66% on opening day of “Dune: Part Two” release, fueled by Gamestop’s Roaring Kitty’s return. After initial struggles in January, AMC shares saw a 6.7% gain in February. Despite repeated losses in March and April, AMC shares surged 66%, aiming for 5. Following $951.4M in revenues, AMC’s Q4 saw a net loss of 54 cents/share but sales growth of 11%, resulting in a cash equivalent of $884M. Sonia Jain joined the board, the first positive quarter since 2019. “Dune: Part Two” earned $32.2M on opening night. Shares might see a net loss of $1.59/share in 2024, according to analysts. Taylor Swift’s “Eras Tour” breaks records in AMC theaters. However, AMC stock plummeted 71% despite the movie’s success, sinking further on share offering news. Blockbusters don’t guarantee significant theater profits. Volume spiked to 84.9M shares over a two-day period in September, indicating institutions unloading shares.



Read more at Investor’s Business Daily: Is AMC Stock A Buy Or Sell Now After Roaring Kitty Returns?