Is AMC Entertainment Losing on the Big Screen With Its Latest Decline?
The recent slump in AMC Entertainment (NYSE: AMC) share value looks like potential bad news for the beleaguered theater chain. The latest superhero movie, Spider-Man: No Way Home, has sizzling pre-sales ahead of its Dec. 17 release. AMC also announced what looks like a potential crowd-pleaser among its Reddit retail investor "ape" fans, the issue of NFTs (non-fungible tokens) to advance tickets bought through its loyalty program.
But the company's share price is falling fast in spite of these theoretically positive catalysts. If the sell-off signals ape disenchantment, it represents a seriously negative shift for AMC -- but there's a potentially more upbeat explanation, one possibly containing a hint of bullishness.
AMC's stock market plunge comes at a moment when apparently good news is in the air on several fronts. Brick-and-mortar movie theater ticket sales have been electrified by the latest "blockbuster" superhero fantasy, Spider-Man: No Way Home. Pre-sale ticket purchases were so numerous they crashed the Fandango website, reaching levels last seen in 2019 for Avengers: Endgame, according to MSN News. Avengers: Endgame saw a similar pre-sale frenzy and eventually scored $357.1 million at its opening, setting an all-time record to date. A similar record isn't out of the question with Spider-Man.
Source Fool.com
