AMC Is Still a Theater Chain. It Really Wants to Be More.

Barrons2022-03-30

The morning after streaming services dominated the 94th Academy Awards, it was shares of a movie theater chain—not Apple or Netflix —that surged 45%.AMC Entertainment Holdings (ticker: AMC) stock is ...

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Comments

Valhptan
2022-03-30
Valhptan
Thanks for sharing
n86887
2022-03-30
n86887
Go up up up
Grit100
2022-03-30
Grit100
Ok
TeslaLegend
2022-03-30
TeslaLegend
Nice
Ooi
2022-03-30
Ooi
✅
Victorhc88
2022-03-30
Victorhc88
Like

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It Really Wants to Be More.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-30 16:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/amc-stock-price-meme-strategy-51648591427?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The morning after streaming services dominated the 94th Academy Awards, it was shares of a movie theater chain—not Apple or Netflix  —that surged 45%.AMC Entertainment Holdings (ticker: AMC) stock is ...</p>\n\n<a href=\"https://www.barrons.com/articles/amc-stock-price-meme-strategy-51648591427?mod=hp_LATEST\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AMC","symbol_name":"AMC院线","start_time":0,"source_url":"https://www.barrons.com/articles/amc-stock-price-meme-strategy-51648591427?mod=hp_LATEST","article_id":"1156263580","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1156263580","pubTimestamp":1648630460,"sourceInfo":{"source_id":"lsy1601382232898","name":"Barrons"},"weMediaInfo":null,"summary":"The morning after streaming services dominated the 94th Academy Awards, it was shares of a movie the","collect":0,"end_time":0,"defaultTopTitle":"barrons.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AMC":"AMC院线"},"translate_title":"AMC仍然是一家影院连锁店。它真的想要更多。","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMC":0.9},"content_text":"The morning after streaming services dominated the 94th Academy Awards, it was shares of a movie theater chain—not Apple or Netflix  —that surged 45%.AMC Entertainment Holdings (ticker: AMC) stock is back in the green year to date. Just as crucially, the name is trending on social media sites like Twitter and Reddit. With help from enthusiastic retail investors, CEO Adam Aron is betting on a future for AMC that goes far beyond the silver screen.Earlier this month, Aron caught Wall Street off guard when he announced a $27.9 million investment in Hycroft Mining Holding (HYMC), which is developing a Nevada gold and silver mine. The move spooked AMC bondholders, who may view such a move as a both a distraction and a signal that AMC plans to spend its $1.8 billion in cash on acquisitions, rather than paying down debt.Aron has been upfront about such efforts, arguing in the company’s Hycroft announcement that the firm is thinking “creatively and boldly about our future.”“Of course, as the largest movie theatre chain in the world, we are passionately committed to orchestrating a full recovery from COVID impacts on the cinema industry,” he said. “But even with the enthusiasm that the public has for moviegoing at our theatres, it is not enough for us to merely bring back the AMC of old.”Beyond Hycroft, the company has begun accepting cryptocurrencies, experimenting with nonfungible tokens, and making a play at the retail popcorn business. It has also acquired theaters it expects to be profitable. Aron’s comments signal more investments are on the way.It’s no surprise why Aron is looking beyond AMC’s core theater business. Wedbush analyst Alicia Reese expects the domestic industry box office can rebound to roughly 80% of prepandemic levels this year, recovering the remaining ground in 2023. Even assuming a valuation for AMC at the high end of its range before Covid-19, her target for the stock price is $7.50, well below Tuesday’s closing level of $29.44.“We have not included AMC’s new ventures in our model yet, given various unknowns,” Reese said via email. “I think it’s best at this point to allow these ventures to be upside income to AMC’s normal business activities.”In the meantime, Wall Street’s consensus estimates calls for net losses of $412 million in 2022 and $224 million in 2023, according to FactSet.Even before the pandemic, industry experts were concerned about how streaming services would cut into the exhibition industry. But AMC stock has confounded traditional analysts and Wall Street observers for more than a year with pops and drops that appear more tethered to broader meme-trade factors like short seller interest, options activity, and social media and retail investor enthusiasm.With the sun shining, Aron is making hay, taking the time to engage with and inspire AMC’s base—fans of the stock, active on Reddit and Twitter, who call themselves apes. Such users believe buying and holding AMC shares will help throttle hedge funds taking overextended short bets against the firm. While that likely won’t translate into box office revenue for AMC, the resultant gains in the share price helped the company to raise millions of dollars via stock sales. AMC took the opportunity to shore up its balance sheet.Aron was asked on CNBC on Monday if the new core competency of AMC was “to use the ‘memesters’ that you have to help turn around the fortunes of a company because they’re willing to put money behind it.”“I think I have to say the answer to your question is ‘yes’ and we proved it,” Aron responded.He has a point. Hycroft said that it had raised about $138.6 million in an at-the-market stock sale program that began after AMC announced its investment. Shares have doubled this week to $2.59.It isn’t yet clear what other investments Aron is eyeing. 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