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- A single Tweet led to massive pre-booking for AMC Entertainment Holdings.
- Black Panther: Wakanda Forever release gave a 40% boost to the company shares.
- AMC shares were trading at a market price of $7.33.
The Power of Twitter
With James Cameron bringing Avatar back with a sequel, moviegoers around the globe are bracing themselves for The Way of Water. Recently, AMC Entertainment Holdings (NYSE: AMC) CEO claimed that 85% of their AMC Disney Springs seats were booked in around 24 hours following the movie’s release next month. AMC stock is maintaining a consolidation phase which could soon turn into a bull run in December 2022.
According to the CEO, he made a Tweet for promotional purposes on the platform. Appears like Twitter surpassed these expectations. Elon Musk took over the social media platform in October 2022 for $44 Billion. The event is just another instance of how influential the platform is. First a crypto exchange was burnt to ashes via four tweets, now a single post filled almost all the seats in the theatre ahead of the movie launch.
AMC Stock Price Analysis
Previously, Black Panther: Wakanda Forever caused AMC stock price to surge by almost 40%. We speculated how another marvel movie, Antman and The Wasp: Quantumania, can affect the company shares in February 2022. Now that Avatar is coming with a sequel, we may see a potential positive momentum in December 2022.
Why is Avatar: The Way of Water important for AMC stock? Because when James Cameron came up with the initial part in 2009, it became the biggest chartbuster in the industry. Noteworthily, the movie brought 3D viewing in cinema theatres, now the fans are speculating what this sequel will bring to their plates.
Currently, AMC stock holds a support zone between $6 and $5.5 and maintains a sideway momentum between $7 and $8. Now the present resistance, $10, may become the next support level. This is where The Way of Water steps it. The movie release can open ways for a new entrance like Jesus parted the Red Sea to make a safe passage for Israelites out of Egypt.
If the share price breaks above the current resistance following the release, $16 will become the new stronghold for company stock. The regression trend strongly supports this as the price has already entered the buying zone. Currently AMC stock was changing hands at $7.33 at the publication time, down by 2.74% in the past 24 hours.
The retail giant, Amazon (NASDAQ: AMZN), announced that they will invest around $1 Billion in the company which may supercharge the bulls considering the upcoming movie releases.
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.
