Why AMC Entertainment Stock Pulled Back Today
Shares of AMC Entertainment Holdings (NYSE: AMC), the world's biggest movie theater operator, were falling on Tuesday as skepticism about the industry's comeback rose after Tenet, the first predicted blockbuster released in theaters since the pandemic started, disappointed at the box office. At the same time, the decision by Disney (NYSE: DIS) to skirt theaters by releasing Mulan direct to consumers for $30 on Disney+ seemed justified after downloads for the streaming app jumped 68% from the week before.
As of 10:38 a.m. EDT today, AMC stock was trading down 6.2%.
An AMC multiplex. Image source: AMC Entertainment.
Source Fool.com