AMC Stock Price: AMC Entertainment declines as inflation report sends markets reeling

NYSE: AMC fell by 1.85% during Thursday’s trading session.
AMC’s situation is improving, but there is still a long way to go.
Movie theaters prepare for the Batman debut in March.

Stocks Reporter FXStreet

NYSE: AMC saw its brief two-day rally halted on Thursday, but it was more due to weakness in the markets rather than any specific company news. Shares of AMC fell by 1.85% and closed the tumultuous trading session at $18.74. The markets opened the session mostly in the green on Thursday, but a higher than expected increase in inflation for the month of January sent stocks plummeting through the afternoon. All three major indices closed in the red, with the NASDAQ shedding 2.10%, the S&P 500 dropping by 1.81%, and the Dow Jones losing 526 basis points during the session.

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AMC has made several key changes to their business this year, including following through with CEO Adam Aron’s promise to lower its long-term debt. On Wednesday, the company announced the hiring of Ellen Copaken as the new Vice President of Growth Strategies. Copaken is a veteran of the snack food industry previously serving at Frito Lay and Hostess. The company is also focussing on its digital transformation by offering its shareholders and members exclusive NFTs. Despite all of this, shares of AMC are still down 30% so far in 2022, as the company continues to fall back down to Earth from its inflated levels in 2021.

AMC stock forecast

After successful box office debuts from major blockbusters like Spider-Man: No Way Home and Scream 5, AMC theaters are preparing for the debut of the Batman on March 4th. Theaters are adding special early viewings as early as Wednesday of that week, with early estimates for opening weekend revenues of over $80 million. AMC is also providing special edition NFTs to members who pre-order tickets through its site or mobile app.

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Stocks Reporter

FXStreet

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