AMC is on a roll this summer with box ticket sales and record high movie-goers. Thor: Love and Thunder raked in $302 million this weekend, setting box office sales records for 2022. This last weekend AMC Entertainment seated 5.9 million guests across theaters globally, making it the highest grossing weekend this year. AMC CEO Adam Aron proudly announced that this last weekend was AMC’s most attended and highest grossing weekend of the year thus far, tweeting out to Wall Street “#CHOKEonTHAT”.
AMC’S Q3 STARTS OUT BIG – RECORD BREAKING REVENUE
Q3 is starting out with record numbers this year. The film Thor: Love and Thunder was able to help AMC theaters draw in 5.9 million guests over the weekend. AMC’s admissions revenue was double of what it was last year on the same weekend. Thor brought in $143 million in North America alone and brought in another $159 million globally. On August 4th AMC Entertainment will announce their Q2 earnings for 2022. AMC’s earnings show that movie theaters are still very much so a popular activity for people across the world. After all, what’s better than going to see a good movie, with good company and have some fresh buttered popcorn while doing so?
Wall Street will continue to try to argue that movie theaters are dead and the AMC stock is worth nothing, but AMC’s recent sales this summer definitely prove otherwise. To that retail investors say good luck on your short positions. Financial institutions continue to heavily short AMC and other meme stocks, as they believe the movie industry is dead. However, Hollywood’s actors and actresses continue to produce highly anticipated films that the public is continues to love and enjoy at AMC Theaters.
AMC Q1 and Q2 IMPRESSIVE REVENUE SALES
Here is a recent break down of some of the most recent film sales from AMC theaters. Doctor Strange in the Multiverse of Madness brought in a whopping $185 million during opening weekend, and Jurassic World: Dominion raked in $145 million. Minions: The Rise fo Gru has helped AMC bring in a total of $609 million globally. While Top Gun: Maverick since released as contributed $1.18 billion globally. Additionally, Elvis has produced $91.1 million in North America.
AMC’s impressive numbers so far in 2022 lead retail investors to believe that AMC stock price is no where near where it will be. The short squeeze is still highly anticipated and retail investors are due for a quick profit. As always, patience is key in the stock market, so retail investors are confident that with the continued success of AMC box office sales and record high guest counts for movie premiers, that AMC stock price is sure to soar and explode!