Why AMC Entertainment Shares Traded Higher On Tuesday

Benzinga2021-09-08

AMC Entertainment Holdings Inc (NYSE: AMC) traded higher Tuesday after the company announced a new Labor Day admissions-revenue record.

AMC Entertainment announced that more than 2 million people watched movies at AMC’s United States theatre locations during Labor Day weekend. More than 800,000 additional people visited AMC’s international theatres in Europe and the Middle East.

The numbers surpassed the previous admissions-revenue record set during Labor Day weekend in 2013.

"First, our U.S. admissions revenues set a new Labor Day weekend record for AMC in the U.S., eclipsing a record previously set in 2013," said Adam Aron, chairman and CEO of AMC Entertainment.

"Second, more people in the U.S. went to the movies at AMC during Labor Day 2021 than they did during Labor Day weekend in 2019. This is the very first weekend that our attendance numbers were ahead of those of the same weekend pre-pandemic, since we closed our theatres in March of 2020," Aron added.

AMC Price Action: AMC Entertainment has traded as high as $72.62 and as low as $1.91 over a 52-week period.

The stock rose 8.66% at $47.83 on Tuesday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

RS142
2021-09-08
RS142
Great
TripleWin
2021-09-08
TripleWin
Great
Victorhc88
2021-09-08
Victorhc88
Like pls
Sew
2021-09-08
Sew
Ok
- Prosperity88:
  goood
Poisonz
2021-09-08
Poisonz
Wow
Tanjunkhim
2021-09-08
Tanjunkhim
Ok
- Faithc:
  Y

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