01 April 2023

Speculation Drives Up Stock Price: AMC Entertainment for sale?..Amazon leaders have publicly indicated they plan to spend $1 billion on producing movies for theaters

With the pandemic over, AMC in its end of 2022 report released in February, shows more people are coming back to movie theaters...While the trend of more people going to the movies is a good one for AMC, Chairman and CEO Adam Aron said last month there’s a long way to go.

“As we’ve been saying for a long time, the industry-wide box office will not return to pre-pandemic norms before 2024 or 2025 at the earliest,” Aron said.

Additionally, AMC has lost at least $100 million in each of its last 12 quarters and remains heavily in debt.

For that reason, Gooding is skeptical about Amazon purchasing AMC.

“The general consensus out there is no one thinks it makes sense,” he said.

“AMC does not comment on rumor and speculation,” said Ryan Noonan, Vice-president for Communications for AMC Theatres.

> Analysts say speculation about Amazon’s potential purchase pushed AMC’s stock up this week.

> AMC stock finished Friday trading at $5.01 per share, up more than 27 percent so far this year.





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