- NYSE:AMC fell by 0.10% during Thursday’s trading session.
- AMC and other theaters have felt the slow summer season this year.
- Avatar is going to do its best to bring moviegoers back to theaters.
NYSE:AMC inched lower once again despite the broader markets rallying for the second straight day ahead of Fed Chairman Jerome Powell’s speech. On Thursday, shares of AMC fell by 0.10% and closed the trading session at a price of $9.57. Stocks jumped higher into the close as the key Fed Symposium at Jackson Hole got under way. Overall, the Dow Jones added a further 322 basis points, the S&P 500 rose by 1.41%, and the NASDAQ jumped higher by 1.67% during the session.
Stay up to speed with hot stocks' news!
Overall, this summer has been a slow one for theaters, AMC included. The past two weekends have been the slowest at the box office since May, despite the summer historically being one of the busiest times of the year. Theater chains like Regal have been hit hard as its parent company Cineworld (LON:CINE) prepares to file for bankruptcy. Some studios have felt the crunch as well, with Warner Bros Discovery delaying some of its major releases until 2023. Will AMC survive this seasonal lull? Most likely. But it certainly doesn’t lend much confidence in the movie theater industry for the long-term.
AMC stock forecast
One blast from the past could help theaters regain their swagger. Avatar is being re-released in both 4K and 3D for theaters. Why is James Cameron’s all-time seller coming back to theaters? Because the long-awaited sequel is being released this December, thirteen years after the original was first released. Avatar: The Way of Water is debuting on December 16, 2022, in what should be the box office release of the holiday season.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.