AMC Stock Price: AMC Entertainment to rebound on ‘strongest quarterly results in two full years’

• NYSE:AMC feel the heat and fell by on Tuesday amid risk aversion.
• AMC Entertainment posted the strongest quarterly results in two full years.
• The entertainment giant stock will begin accepting meme coins like DogeCoin and Shiba Inu at its theatres.

Update: After correcting as much as 2.86% on Tuesday, shares of AMC Entertainment are set to stage a solid comeback on Wednesday, as movie chain recorded ‘strongest quarterly results in two full years’. AMC posted revenues worth $1.2 billion during the holiday quarter as “Spider-Man: No Way Home” galvanized ticket sales at the company. The stock price retreated sharply from weekly highs of $19.43, tracking the broad decline on Wall Street amid escalating Russia-Ukraine conflict.

NYSE:AMC investors are likely surprised to see that the meme stock managed to gain 11.9% during the month of February. The stock has been in a downturn for the past six months or so, and in that time the stock has dropped by 56.8%. Still, the positive month is progress for the stock as investors are hopeful that it has finally managed to find a bottom. On Monday, shares of AMC gained 6.80% and closed out the month of February at $18.86. The markets were all over the map on Monday as investors monitored the Ukraine situation. The Dow Jones dropped by 166 basis points, the S&P 500 fell by 0.24%, and the NASDAQ eked out a gain of 0.41%.

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On Tuesday, AMC is set to report its earnings report for the fourth quarter of 2021. Wall Street analysts anticipate the company will report adjusted earnings of $-0.26 per share. It should be noted that even though AMC has beaten its adjusted earnings per share in two straight quarters, the stock has dropped on both occasions. This is likely due to the fact that the company has been providing a weaker forecast than what analysts are expecting.

AMC stock forecast

In other news, AMC is partnering with Bitpay to allow customers to pay with DogeCoin or Shiba Inu Token on its website and via its mobile app. The theater chain already accepts Bitcoin and Ethereum, but as of March 19th for the website and April 16th for the mobile app, users will be able to buy tickets and other memorabilia with these meme coins.

Previous updates

Update: As the market heads into the close and AMC earnings reports, shares are down 2.47%, partially recovering from early losses. Wall Street plummeted amid mounting risk aversion, the latter triggered by market's conviction that Russian President Vladimir Putin would not back up on its decision to take control over Ukraine. The world is responding by sending armour to Ukraine and putting a tough financial ban on Moscow, but there's no end at sight. AMC is expected to report total revenue of about $1.17 billion and a net loss between $194.8 million and $114.8 million. 

Update: AMC is meandering alongside the $19 price mark in the first hours of Tuesday's trading. The entertainment giant shares are escaping the general sell-off seen in the US stock market at the time of writing, with the S&P 500 down about 1% and the NASDAQ also in red figures, down 0.40% after the first hour of trading. AMC is expected to release its earnings report later on Tuesday. The markets are cautious following the sixth day of the Russian invasion of Ukraine and with high-importance speeches coming from US President Joe Biden tonight at the State of the Union and from Federal Reserve chair Jerome Powell's testimony in Congress on Wednesday and Thursday.