AMC Entertainment (NYSE:AMC) stock is on the move Monday as investors react to two new catalysts for the movie theater company.
The first bit of news from AMC Entertainment is a strong performance over the last weekend. According to a press release from the company, it was the busiest weekend the movie theater chain has seen so far in 2022.
The company attributes this performance to a variety of films shown over the weekend:
Unlike previous busy weekends where the attendance was driven by a single title, AMC’s busiest weekend was driven by strong depth among summer blockbusters. In addition to THOR: LOVE AND THUNDER, AMC saw strong performances from MINIONS: THE RISE OF GRU, TOP GUN: MAVERICK, JURASSIC WORLD DOMINION, ELVIS, and THE BLACK PHONE.
The next catalyst was announced by AMC Entertainment CEO Adam Aron on Twitter (NYSE:TWTR). Aron says that AMC is now offering deliveries of movie theater snacks through Uber (NYSE:UBER) Eats. This will allow users to order popcorn and other treats from the movie theater company.
Currently, AMC is still testing out this partnership. As such, it’s only available in Chicago and Kansas City. However, Aron says this could be expanded to the rest of the U.S. if those tests go well.
AMC stock is been sliding between red and green during morning trading. As of Monday afternoon, the stock is down 1.4%.
There’s more stock market news investors will want to know about below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
