Even Frodo Can't Save AMC Stock Now
Something big but familiar is coming to IMAX (NYSE: IMAX) this weekend, and AMC Entertainment Holdings (NYSE: AMC) is hoping for some "precious" rewards. The Lord of the Rings: The Fellowship of the Ring will make its debut on the larger-than-life cinematic platform on Friday. The other two entries in Peter Jackson's Lord of the Rings trilogy will follow later this month.
It's been 20 years since what is now AT&T's (NYSE: T) Warner Bros. released the first of the three wildly successful films, which would gross more than $2.9 billion in ticket sales worldwide. The trilogy never blew up on the IMAX format, but Jackson's recent 4K remasters of the films make it possible. The timing is lousy, of course. Most fans of the series are going to be hesitant to head out to what should be a socially distanced but still crowded movie theater. However, it's the lousy timing that makes this possible at all. With major movie studios pushing out the release dates of their new IMAX releases, there just isn't a healthy trickle of content for AMC and smaller rivals to play on their most lucrative screens. This is a smart move, but it probably won't be enough to save the industry.
Image source: Getty Images.
Source Fool.com
