What's Going On With AMC Entertainment Stock Today?

What’s Going On With AMC Entertainment Stock Today?

AMC Entertainment Holdings Inc AMC shares are trading higher Tuesday ahead of earnings this week.

AMC is scheduled to report second-quarter financial results after the market closes Thursday. The company is expected to report an earnings loss of 19 cents per share on quarterly revenue of $1.16 billion, according to data from Benzinga Pro.

At the beginning of July, AMC CEO Adam Aron Hinted at crushing short sellers sometime after the company reports second-quarter earnings.

Aron noted at the time that the retail investing crowd, better known as AMC apes, kept asking him: “Wen pounce?”

“Know this: 1. I always keep my word. 2. I’ve said publicly a pounce would not happen before Second Quarter 2022 earnings are announced. 3. Press release issued today that Q2 earnings to be announced on Thurs, August 4. Read between those lines,” Aron said via tweet.

In other news, IMAX Corp IMAX CEO Richard Gelfond said the movie theater business is “smoking,” this week on CNBC’s “Squawk Box.”

Gelfond noted that business is only down about 5% compared to 2019, which was the company’s “best year ever,” and suggested that the pandemic-related slowdown may be coming to an end.

Related Link: IMAX Chief Says Movie Theater Business Is ‘Smoking’ – What That Could Mean For Upcoming AMC, Cinemark Earnings

AMC Price Action: AMC Entertainment has a 52-week high of $34.33 and a 52-week low of $9.70.

The stock was up 8.95% at $16.75 at time of publication.

Photo: Paul Sableman from Flickr.

Leave a Comment

Your email address will not be published.