New blockbuster films like “Fast 9” and “A Quiet Place Part II” bolstered revenues at AMC Entertainment, even as the reemergence of a new and highly contagious variant of co…
New blockbuster films like “Fast 9” and “A Quiet Place Part II” bolstered revenues atEntertainment, even as the reemergence of a new and highly contagious variant of coronavirus threatened to undue the theater industry’s recent gains. A better-than-expected earnings report sent shares of the company surging in after-hours trading, though that enthusiastic response is to be expected given AMC’s new status as a meme stock.
The comparisons were understandably stark. At this point last year, many of AMC’s locations were shuttered, movies weren’t being released theatrically and COVID-19 was raging unchecked through the country. AMC’s attendance numbers reflect that story. Admissions for the three-month period ending in June hit 22 million. Last year at this point they stood at 100,000.
None of those concerns matter to AMC’s most ardent investors. AMC is currently experiencing the benefits of being embraced as part of a Reddit-fueled retail investment revolution. It’s one that has also lifted the likes of GameStop, BlackBerry and other companies, enabling them to slip the surly bonds of balance-sheet based metrics to trade on populist sentiment. True to form, AMC’s stock rose more than 7 percent on news that it had handily beaten projections.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
AMC posts narrower-than-expected loss, but CEO warns theater chain 'isn't out of the woods yet'Shares of AMC Entertainment rose after the company posted a narrower-than-expected loss during the second quarter.
Consulte Mais informação »
History-Making Olympian Uses Prize Money To Buy Her Mom A Food TruckWrestler Tamyra Mensah-Stock will use her Gold Medal earnings to make her mother's lifelong dream come true.
Consulte Mais informação »
U.S.-Stock Funds Rise for the Month, Helped by Earnings ReportsDespite being buffeted on all sides, the stock market continues to power ahead. The question is how long corporate earnings, a big driver of this resilient market, will remain solid.
Consulte Mais informação »
Record Pace for Corporate Earnings Keeps Stocks BuoyantDespite a handful of economic risks coming into view, investors have been heartened by a standout earnings season in which the share of big U.S. companies beating profit expectations is on pace for a record.
Consulte Mais informação »
Analysts pick their top renewable energy stocks as demand surgesNew for subscribers: Analysts pick their top renewable energy stocks as demand surges. Check out CNBCPro today.
Consulte Mais informação »
Florida Sets New Covid Case Record For Second Straight DayGov. DeSantis has falsely blamed the Covid surge on immigrants.
Consulte Mais informação »