AMC Entertainment (AMC) shares are rallying Monday afternoon, buoyed by robust box office sales over the weekend. Attendance was largely driven by the success of animated release “Despicable Me 4.” The film has grossed $230 million globally, with $122 million coming from domestic markets. This strong showing has not only boosted ticket sales but has also significantly increased merchandise revenue at AMC theaters.

Yahoo Finance reporter Alexandra Canal breaks down the details.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Angel Smith

Video Transcript

Another stock that we are watching today.

It was a MC finishing Monday’s trading session firmly in the green up by about 8% following another strong weekend at the box office.

Solid sales of New Merch also helping.

That’s according to Ceo Adam Aaron and Young finances, Alexander Canal joins us now with the de details, despicable me for Yeah, I are your kids fans of despicable me.

They’re fine with it.

They’re aging up a little bit.

What about, what about you, Josh?

No, no, no, no, not an I just think it’s over her head.

Maybe should be a fan of 56 or seven because I probably will be those coming considering how well this film is already doing so far, so good.

It debuted over the long fourth of July holiday.

It’s gross about 230 million worldwide which did include 122 million over the domestic uh holiday weekend as well.

But that’s not all according to that tweet from Ceo Adam Aaron, the film in 4 million guests and was the most attended Wednesday through Sunday of 2024.

The merch also was really important with sales of that merge the second biggest ever for A MC and that’s behind the Taylor Swift eras tour movie.

Remember that movie that debuted last year?

Apparently a lot of people want to get those despicable me minions that I was gonna buy the minions.

I guess.

They think they’re really cute they want by that.

And it, and it, you know, considering the Taylor Swift movie, they probably sold a lot of T shirts, things like that, that fans were doing.

So this is a success.

Also, food and beverage was really strong as well.

And that’s something that you sometimes forget about when we talk about a lot of these theater chains, that’s not just about the ticket sales.

It’s also everything else that comes along with it.

Of course, we talk about a MC.

It’s one of those stocks that normally has some volatile swings.

It’s one of the OG meme darlings and not always tied to fundamentals.

Box office performance is fundamental to this company.

And when you think about the box office overall, especially as we kicked off the summer season, it was a bit of a rocky start, but we seem to be finding our footing with the box office, not just despicable me, but also inside out to performing really well.

So a lot of those animated family friendly movies uh seem to be outperforming this summer.

We’ll see how that carries through through the rest of the year.

You know, it’s funny I’m looking at Cinemark, those shows were up just a half of 1% today.

Maybe, you know what the difference is.

I CEO doesn’t tweet.

Yes, I was, I was just about to say that, I mean, you have the CEO basically touting how successful this was.

You have to think.

Oh, that must be a really great weekend for a company like a MC.

But, and normally when we have strong box office results, overall, we’ll see a trickle throughout all of the big box office change.

A MC is the largest, especially in the United States.

But, but again, it’s, we’re not totally out of the woods yet.

When you think about the box office at large, we probably will never be back to where we were pre pandemic.

So it’s, it’s just a new business and because of that, you kind of have to have a new business model too.

And I think the food and beverage, the merge, that’s a big thing as well.

And tweeting to people who like name stocks that, I mean, that legitimately that’s part of the army doesn’t hurt.

Thanks, Sally.

Appreciate it.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *