AMC Stock Price: AMC Entertainment rises despite market sell off to close the week

NYSE: AMC gained 1.18% during Friday’s trading session.
Disney’s recent earnings success might be bad news for AMC.
AMC is hoping to attract moviegoers by playing the Best Picture candidates.

NYSE: AMC continued its unpredictable path on Friday, as the stock rose higher despite a global market sell off to end the week. Shares of AMC gained 1.18% and closed the trading week at $18.81. Markets took a dive midday as fears of an impending attack on Ukraine by Russian forces dominated the headlines. All three major indices crashed into the close, as the NASDAQ dropped by a further 2.78%, the S&P 500 fell by 1.90%, and the Dow Jones lost 503 basis points during the session.

Stay up to speed with hot stocks' news!

Even as the end to the pandemic is seemingly within reach, AMC and other theater operators continue to struggle to sell tickets. Part of this was likely revealed during the recent Walt Disney (NYSE: DIS) earnings call, when the House that Mickey built reported a record 129.8 million Disney+ subscribers. The problem for AMC is that movies that will eventually be released to Disney+, like the recent hit Encanto, are getting much more viewers at home than in theaters. Encanto is the fastest Disney film to reach 200 million hours watched on the platform, and every time a user watches it at home, it takes revenues out of AMC’s pockets.

AMC stock forecast

AMC is looking to attract a wider and more diverse audience to its theaters as it shows six of the seven films nominated for the Best Picture Academy Award. This is a part of AMC’s Artisan Films program which has played the Best Picture nominees for the past fifteen years. These films will be played at select AMC theaters from March 18th to March 27th around the country.

Like this article? Help us with some feedback by answering this survey:

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.