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Wednesday, May 18, 2022

AMC Entertainment Holdings, Inc. (AMC) Stock Inclining Premarket, What’s New.

AMC Entertainment Holdings, Inc. (AMC) is one of the biggest movie exhibitors around the globe. The company is innovatively deploying power-recliner seats along with the delivery of improved food and beverage choices. The company offers a premium bigger format experience to its customers.


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AMC stock price during the regular trading session of March 22, 2022, soared by 15.13% to be $18.2. Its price further climbed as of the writing in the premarket session of March 23, 2022, by 8.16%.

AMC: Events and Happenings

On March 7, 2022, AMC informed the press regarding the third-highest attended weekend since the reopening of movie theaters. Approximately the global sale of the tickets rose to 4 million at the company’s locations internationally. The reason behind this phenomenal success was the opening weekend of ‘The Batman’.

AMC: Key Financials

AMC released its Q4 2021 financial outcomes on March 1, 2022, for the three months ended December 31, 2021. Some significant aspects are mentioned below.

Revenue

The company posted total revenues of $1.17 billion during Q4 2021 against $162.5 million in the comparable fourth quarter of 2020. The company observed a momentous gain of $1 billion in its revenue over the year and it surpassed the expectations by $57.3 million.

EPS

Diluted Net loss per share during Q4 2021 was $134.4 million or $0.26 against $946.1 million or $6.21 in the corresponding quarter in 2020. The company’s EPS gained substantially over the year and it missed the expectations by -$0.03.

On February 28, 2022, AMC announced the promotion of Dan Ellis to Executive Vice President, Chief Operations and Development Officer, and Eliot Hamlisch to Executive Vice President and CMO. Dan was previously serving as the Senior Vice President, Development and International.

On February 15, 2022, AMC updated on reaching a lease contract with GW Properties (based in Chicago) for the acquisition and opening of the company’s Evanston 12 later this year.

Conclusion

AMC stock is 70% up the past year comparable period as the pandemic restriction are easing after the global vaccination drive. The company’s stock is gaining pace in the current premarket as it is a meme stock and there is no official press release or regulatory filing is posted on its website.

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