AMC Stock Price: AMC Entertainment closes the session strong after earnings beat

NYSE:AMC gained 1.15% during Wednesday’s trading session.
AMC beat its earnings but investors still seemed unimpressed.
AMC’s new ticket policy could bring in more revenues.

Stocks Reporter FXStreet

NYSE:AMC saw a tentative start to the day but managed to finish stronger, although the stock still underperformed the broader markets on Wednesday. Shares of AMC gained 1.15% and closed the trading day at $18.53. Despite intensifying attacks in Ukraine, the US markets rallied from a bearish start to March. The Dow Jones jumped higher even as oil prices continued to spike and 10-year treasury yields surged. The blue-chip index gained 596 basis points, while the NASDAQ and S&P 500 gained 1.62% and 1.86% respectively during the session. The market rally lifted otherwise struggling meme stocks like GameStop (NYSE:GME) which added 2.48% and Digital World Acquisition Corp (NASDAQ:DWAC) which edged higher by 0.05%.

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AMC is fresh off of its best quarterly report in more than two years, but investors seemed less than enthused following the call. The stock traded mostly flat during after hours trading on Tuesday, and had a slow start to Wednesday’s session as well. While the earnings beat is a positive sign from the company, this is likely the market’s way of saying that the stock is still overvalued at its current price.

AMC stock forecast

The new ticket pricing that AMC is implementing for the upcoming ‘the Batman’ release is intriguing for potential long-term revenues. The company is planning to charge more for tickets to premiere showings of new releases. Currently, at some locations tickets for ‘the Batman’ are priced at $1.00 more than other movies. While this is a novel concept in the US, it has been something that the company has implemented at its European locations for quite some time now. Given how movies like Spider Man: No Way Home and Uncharted have done, the extra ticket sales could really help AMC’s bottom line.

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