AMC Entertainment stock is up 18.15% on the weekly chart.
Stock prices had fallen after shares were split with AMC’s Preferred Equity (APE), but a rebound has brought shares up again.
AMC finished up +5.14% on Monday, opening at $9.98 with a high of $10.75.
MSM tirelessly continues to attack the company stock despite its gains and change in momentum.
Here’s the latest AMC stock news.
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AMC Entertainment partners with Disney+
AMC Entertainment is partnering up with Disney+ to provide Disney+ subscribers with AMC theatre perks.
Some of the perks Disney+ is providing to its customers are:
- 6 months of Uber One Membership
- Disney Movie Insider Bonus Points
- Special Screenings at AMC Theatres
- Disney Cruise Line Offer
- + more.
CEO Adam Aron said on Monday that “the consumer’s voracious quest for content allows both movie theatres and steamers to thrive. So, I am thrilled that tens of millions of Disney+ subscribers now get perks — exclusively at AMC Theatres!”
This is a massive win for AMC Entertainment as it contradicts what analysts have been expecting of the century old movie theatre chain.
Financial institutions shorting AMC theatre stock prophesized streaming would replace the cinematic experience, but AMC’s partnership with Disney shows us both outlets can coexist.
Which do you prefer?
Online streaming, or the cinematic experience you get at a movie theatre?
Be sure to leave a comment down below.
Bankruptcy in the Movie Theatre Industry
Earlier the CEO also addressed Regal’s filing for bankruptcy, stating fortunately AMC is in a very, very different position.
AMC Entertainment continues to thrive as shareholders become customers and new retail investors join the ‘meme stock’ saga in fighting corruption and malpractice in the financial markets.
Momentum has even begun to pick up as indicators are signaling big price action could lie ahead for AMC Entertainment stock.
But AMC’s competitors are not on the same boat.
The British movie theater chain Cineworld (Regal), weighed down by a mammoth debt pile, filed for Chapter 11 bankruptcy in the United States last Wednesday, having failed to rebound from the pressure inflicted by the pandemic, according to The New York Times.
Cineworld, the world’s second-largest theater chain after AMC Theaters, will seek to significantly reduce its debt through reorganization, the company said in the filing.
The company, which is based in London and operates Regal Cinemas in the United States, reported $8.9 billion in debt at the end of 2021, including $4 billion in lease liabilities.
Some of the debt was taken on in the pandemic as the company sought to outlast lockdowns that had sapped its revenue.
Cineworld said Wednesday in its filing that it had secured $1.94 billion in debtor-in-possession financing that would allow it to keep up its operations while it restructures its obligations.
Will AMC share prices keep rising?
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AMC sentiment: Bullish
Indicators have been signaling strong price action may lie ahead for AMC Entertainment stock.
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