Why Is AMC Entertainment (AMC) Stock Up Today?


  • AMC Entertainment (AMC) stock is rising on Monday.
  • This comes on a strong opening weekend for Spider-Man: Across the Spider-Verse.
  • It brought in more than $120 million during its debut.
AMC Stock - Why Is AMC Entertainment (AMC) Stock Up Today?

AMC Entertainment (NYSE:AMC) stock is rallying on Monday as the movie theater company gets a boost from a strong opening weekend for Spider-Man: Across the Spider-Verse.

Spider-Man: Across the Spider-Verse got a positive reception this weekend as it pulled in $120.5 million. To put that in perspective, the first movie, Spider-Man: Into the Spider-Verse, only pulled about a third of that during its opening weekend.

To go along with this, both critics and moviegoers are praising the film. It currently has a 95% fresh rating from critics on Rotten Tomatoes, and the audience score on that site is just above that at 96%.

The positive reception of Spider-Man: Across the Spider-Verse is also leading to increased chatter about the film on social media. This saw several hashtags connected to the movie trending over the weekend as viewers shared their thoughts about the film on Twitter.

What This Means for AMC Stock

A strong opening weekend for a film is a win for AMC Entertainment as it means more business for the theater chain. Additionally, the continued chatter means more consumers may go experience the movie alongside the hype. That could lead to more ticket sales at the company’s theaters.

However, investors will have to wait until AMC Entertainment’s next earnings report to see how much Spider-Man: Across the Spider-Verse boosted its business. Until then, they’ll have to accept that the stock is up 1.2% as of Monday morning.

Investors searching for more of the most recent stock market news will want to keep reading!

We have all of the biggest stock market stories that traders need to know about on Monday! Among that is what’s going on with Tesla (NASDAQ:TSLA), Apple (NASDAQ:AAPL), and Palantir Technologies (NYSE:PLTR) stock today. All of that news is ready to go at the links 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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/06/why-is-amc-entertainment-amc-stock-up-today-june-5th/.

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