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Dear AMC Stock Fans, Mark Your Calendars for May 5


  • AMC Entertainment (AMC) will host its first-quarter earnings call on May 5.
  • Loyal investors in the meme stock may be excited as this date draws near.
  • The earnings report will probably not boost AMC stock, however.
In this photo illustration the AMC Entertainment Holdings logo seen displayed on a smartphone screen. APE stock
Source: rafapress / Shutterstock.com

This week isn’t going well for AMC Entertainment (NYSE:AMC) so far. Shares of the struggling movie theater chain are falling hard today on reports that the company has reached a legal settlement regarding the conversion of its AMC Preferred Shares (NYSE:APE) to common stock. While APE is surging, AMC stock is moving in the opposite direction, down more than 20% as of this writing.

In addition, AMC recently announced that it will host its first-quarter 2023 earnings call on Friday, May 5 before markets open. However, that isn’t helping shares rise either. The news is clearly being overshadowed by the APE settlement announcement this morning.

Investors also shouldn’t expect the upcoming earnings report to boost shares as it draws closer. What’s more, even if shares do receive a bump, shareholders need to be careful not to lose sight of the bigger picture.

Let’s take a look at what AMC has coming up and what investors should watch for.

What to Expect From AMC Stock

At this point, it’s hard to have much faith in AMC stock’s chances of bouncing back. Shares are down 35% for the month and almost 50% for the past six months. The company saw some slight momentum last week when news broke of a potential Amazon (NASDAQ:AMZN) buyout. However, experts have speculated that the Amazon deal will likely not happen.

The theater chain did recently report record food revenue, although that also hasn’t done much for the stock price. As such, AMC is heading into its next earnings call with shares deep in the red and little cause for optimism.

Investors will still tune into the call, hoping to hear updates from CEO Adam Aron on his vision for the company in 2023. Aron will likely discuss the APE conversion, as many investors will be wondering what it means for their holdings. However, it’s unlikely that anything he has to say can boost shares dramatically. As InvestorPlace’s Thomas Yeung notes:

“For investors hoping for AMC’s ‘good old days’ at $40… $50… even $60… those days are over. AMC today has plenty more stakeholders than it used to. And even though it may someday become the last theater chain standing, it’s no guarantee that common shareholders will walk away with a profit.”

AMC stock may see some slight gains closer to May as social media hype drives superficial momentum. Given how shares have performed lately, though, don’t count on the Q1 report providing much good news.

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Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Samuel O’Brient did not hold (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.

Samuel O’Brient has been covering financial markets and analyzing economic policy for three-plus years. His areas of expertise involve electric vehicle (EV) stocks, green energy and NFTs. O’Brient loves helping everyone understand the complexities of economics. He is ranked in the top 15% of stock pickers on TipRanks.

Article printed from InvestorPlace Media, https://investorplace.com/2023/04/dear-amc-stock-fans-mark-your-calendars-for-may-5/.

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