AMC's stock rose after the announcement that a Taylor Swift movie is coming to theaters in October.
Shares of AMC Entertainment Holdings Inc. rose Thursday after the announcement that a Taylor Swift movie is coming to theaters in October, but the stock still wasn’t out of the woods in the midst of a rather cruel summer for investors.
“This marks the inaugural step of a new line of business for AMC Entertainment,” AMC said in a statement. “In addition to exhibiting ‘Taylor Swift | The Eras Tour’ concert film at its own theatres, AMC is also acting as the theatrical distributor, securing locations and screens with numerous other movie theatre operators throughout the U.S., Canada, and Mexico.”
Despite the two-day rally, the stock has still plummeted 69.9% in August, which would mark the biggest monthly percentage decline since AMC went public in December 2013.Adult tickets are priced at $19.89 plus tax, while children’s and senior tickets will be $13.13 each. Those prices don’t include tickets for AMC’s premium large-format screens.
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