The action progressed on Monday morning as the movie chain said October was its best earning month since the start of the Covid-19 pandemic.
The company said ticket admission revenues at its U.S. theaters last month were the highest since February 2020 – the month before theaters across the country closed due to the pandemic. The same was true for international theaters, the added company.
The title meme, a favorite with retail investors on Reddit, was up 3.7% on Monday. While the stock’s performance – up more than 1,500% since the start of the year – has been largely disconnected from physical reality and the fortunes of the industry at large, investors will nonetheless wait with it. looking forward to AMC’s third quarter results (ticker: AMC), expected this week.
(IMAX) said last week it had its best October, thanks in large part to the sci-fi film Dune and pent-up public demand. However, the stock fell 6% on Friday despite the company reporting a smaller-than-expected loss and a slight drop in earnings.
AMC’s update, which noted that the domestic industry’s box office for October would be “considerably higher” than any other month since February 2020, helped the industry at large on Monday. IMAX stock climbed 5%, while
(CNK) was 9.6% higher.
Write to Callum Keown at [email protected]