Is Summer Loving Over for AMC Stock?
With sincere apologies to T. S. Eliot, this is the way summer ends -- not with a bang, but a whimper. Business is slowing at AMC Entertainment Holdings (NYSE: AMC) and its fellow exhibitors. Domestic box office receipts clocked in at $91.9 million over the weekend, the industry's weakest showing since May.
Bullet Train was the big premiere this time. The Brad Pitt-helmed thriller didn't exactly flop out of the gate. It topped $30 million in ticket sales, accounting for nearly a third of all stateside theater admissions over the weekend. However, it wasn't enough to save what the industry considers to be the last real weekend of the telltale summer season.
Summer technically doesn't end until late September, but with many area schools returning to class in the coming days you should have more elbow room at your local multiplex now. Studios tend to put out their more promising releases between the Memorial Day and Independence Day holidays. The release slate for the rest of the current quarter is predictably bland. It doesn't mean that AMC shareholders should be concerned.
Source Fool.com
