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- AMC Entertainment saw 4.9 million customers during the week.
- Company shares were on rise following the Black Panther: Wakanda Forever release.
- AMC stock is trading at $7.24 at the time of writing.
Marvel-ous Weekend for AMC Stock
After the breathtaking phase 3 finale in Avengers: Endgame, though we lost Tony Stark, (RDJ’s not dead yet) it proved flourishing for the Marvel Cinematic Universe (MCU) as the movie made $2.7 Billion at the global box office. Now Marvel has given boost to phase four, their latest release, Black Panther: Wakanda Forever, has accelerated AMC Entertainment Holdings (NYSE: AMC) causing AMC stock to surge by over 40% during this period.
According to Rotten Tomatoes, Wakanda Forever made $180 Million during its first weekend to become 8th highest opening in the franchise. AMC Theatres witnessed 4.9 million visitors in the week, eventually giving a boost to AMC share price. Now that the company stocks have started to show signs of recovery, it is unmissable what lies ahead for the organization.
AMC Stock Price Analysis
AMC shares traded at its all time high during June 2021 as the price changed hands above $44. The company shares have seen decline since, maintaining a support level of $4.5. It saw this year’s highest range during March 2022, reaching $21 by the month’s end. It bounced off the support line to reach $16.89 during August, only to reinforce in the defending zone. AMC stock was trading at the market price of $7.34 at the publication time, uptrending by 1.94% in the last 24 hours.
With the release of Black Panther: Wakanda Forever AMC stock has again rebounded from the support. This movie was important as it was a tribute to the Late Chadwick Boseman, the original Black Panther, who took his last breath on 28th August, 2020 in LA, California.
Let’s get back to AMC stock again. If Black Panther’s sequel can surge the value to around 40%, think about what the release of Antman and The Wasp: Quantumania in February 2023 can do. But HOW?
First of all, we must not forget that the movie has already revealed their biggest villain, Kang The Conqueror in Antman and The Wasp: Quantumania trailer, since Thanos. People are already anticipating the film to reach the levels of Endgame, Infinity War, and more. If the film does well at the global box office, it may surge the AMC stock price considering the massive moviegoers entering the AMC Theatres.
And these are just short term speculations, AMC stock can perform much better in the long term. Movie lovers and experts are often debating whether Marvel Cinematic Universe or A24, an independent entertainment company, will rule the sector. The entertainment industry generated $26.94 Billion in 2021, and is expected to become a $40.74 Billion industry by 2026. According to Box Office Mojo, Marvel held 30% share of the entire global box office in 2021.
This may impact AMC share in the long run considering the potential increase in AMC Entertainment Holdings’ user base. But there’s a flipside to this coin. Streaming services are growing at a faster pace which may prevent the AMC stock from highly positive returns. Reason being people’s preference to platforms like Netflix (NASDAQ: NFLX), Amazon Prime and more. According to latest stats, the company had a net worth of $129 Billion.
In conclusion, the rise of the movie franchises can affect the company in both ways. On one hand, moviegoers love to see the moments like Tony Stark saying “And I, Am Ironman” on the big screen, but they also prefer to watch a movie in utter tranquility, away from the crowd.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
