AMC Stock Tumbles to Lowest Since Height of Pandemic
Share prices for the country's biggest theater chain have found themselves at a new low.
Despite Barbie and Oppenheimer setting new sales records for AMC Theatres, the chain's stock is in a downward spiral. Late last month, it was revealed the viral double-header set a new sales record the chain and now, the stock is the lowest it's been since the height of the pandemic. Monday, shares of AMC stock plummeted 35 points, closing the day at just under $3.40 per share. That's the lowest share price for the company since the week of January 15th, 2021 when most theaters remained closed because of the global pandemic.
It was just a matter of weeks ago Barbenheimer allowed the 103-year-old company to tally its best week ever in ticket sales.
"The monumental success of Barbie and Oppenheimer has the entire movie and movie theater industry abuzz, with discussions of new records and new benchmarks being realized seemingly wherever you turn," AMC chief Adam Aron said in a press release at the time. "These two movies, along with the many others playing on our huge silver screens, continue to rewrite what is possible at the box office. At AMC, we are thrilled to add our own new all-time records into that conversation. Achieving the most admissions revenue in a single week in AMC's storied 103-year history is a testament to the moviegoing audience, who has demonstrated once again that they are ready, willing, and eager to come out to movie theaters in huge numbers. Thank you to our guests for choosing AMC Theatres in the U.S. and Odeon Cinemas abroad."
Through Sunday, Barbie has grossed a staggering $1.18 billion at the global box office while the R-rated Oppenheimer has a sizable $648 million.
In Barbie, to live in Barbie Land is to be a perfect being in a perfect place. Unless you have a full-on existential crisis. Or you're a Ken. From Oscar-nominated writer/director Greta Gerwig comes Barbie, which hit theaters on July 21st. Barbie stars Oscar-nominees Margot Robbie and Ryan Gosling as Barbie and Ken, alongside America Ferrera , Kate McKinnon , Michael Cera , Ariana Greenblatt , Issa Rae , Rhea Perlman , and Will Ferrell. The film also stars Ana Cruz Kayne, Emma Mackey , Hari Nef , Alexandra Shipp , Kingsley Ben-Adir , Simu Liu , Ncuti Gatwa , Scott Evans , Jamie Demetriou , Connor Swindells, Sharon Rooney, Nicola Coughlan, Ritu Arya , Grammy Award-winning singer/songwriter Dua Lipa and Oscar-winner Helen Mirren . Gerwig directed Barbie from a screenplay by Gerwig & Oscar nominee Noah Baumbach , based on Barbie by Mattel .
