Movie Theater Stocks Have Come Alive This Summer
We're at the point in the telltale summer season where the obvious blockbusters have already hit the silver screen. The $132.7 million in domestic ticket sales for multiplex operators over the past weekend is the weakest showing since early June. After back-to-back weeks of post-pandemic weekend records, things appear to have slowed since peaking with the $238.3 million collected at the box office a weekend earlier.
It's OK to celebrate. It's OK to not fear that the party is over. The industry showed us what it can do when it has a healthy pipeline of content. We didn't lose our appetite for a theater outing just because streaming services catapulted in popularity during the first two years of the COVID-19 crisis. AMC Entertainment (NYSE: AMC), Cinemark (NYSE: CNK), and Imax (NYSE: IMAX) could be just getting started.
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Source Fool.com
