This Summer is the time for AMC Entertainment to shine. Last June we saw AMC stock price peak at $72 per share and this summer we just might have deja-vu. CEO Adam Aron confirmed that over Memorial Day weekend, newly released film Top Gun: Maverick crushed sales records for the long weekend. Not just that, but two weeks later Jurassic World Dominion was the icing on the cake for AMC box office receipts. Aron tweeted,
“So encouraging to report that AMC had another fabulous weekend due to the huge opening of Jurassic World Dominion. AMC’s Admissions ticket revenues in the U.S and abroad: 15% higher than the same weekend of 2019, pre-pandemic. Right after the record setting Top Gun: Maverick.”
Not only can we expect the box office sales of these movies to continue through summer, but the movie Lightyear is right around the corner of being released to theaters. From what we’ve seen with Top Gun: Maverick and Jurassic World Dominion, we can anticipate some impressive box office reports from Lightyear as well. The three movies combined, could be the momentum AMC needs to skyrocket.
Should you invest $1,000 in AMC Entertainment right now?
While analysts have indicated that they don’t believe that AMC entertainment will be seeing a profit until 2026, retail investors would argue otherwise. CEO Adam Aron has made it his mission to turn the company around and has made tremendous progress since the Covid-19 pandemic. Not only that, but proof is in the pudding. During a bearish market like we’re currently experiencing, AMC Entertainment has proven they still have what it takes to break company records, with ticket revenues from the memorial day weekend beating the sales of the same weekend in 2019 by 15%.
AMC has continually amped up its profit makers. AMC has implemented mobile concessions as well as improving their food and beverage offerings to customers. They’ve done such a good job at this that consolidated food and beverage revenue per customer has increased 40% since 2019.
AMC MOASS ON THE HORIZON
In addition to the the undeniable improvements AMC has implemented and had success with, retail investors also have been hyper aware of the fact that shares on loan have surpassed 195 million. This is a huge data point that can’t be ignored. We recently covered the fact that mainstream media seems to be trying to avoid the fact that financial institutions have heavily shorted AMC as well as other meme stocks.They have have been adamant on pushing a narrative that retail investors should be careful. However AMC apes know better and will not fall for their push for apes to sell their positions. AMC retail investors know that hedge funds and financial institutions will have to soon buy back the shares to close their short positions.