Is This the Week AMC Finally Bounces Back?
It's been a rough run for AMC Entertainment Holdings (NYSE: AMC) since CEO Adam Aron's ill-advised decision to create and spin off AMC Preferred Equity (NYSE: APE) over the summer. AMC stock closed at $18.20 on Aug. 19, the trading day before what was effectively a 2-for-1 stock split. The combined value of the two shares has plummeted 60% to $7.22 less than three months later. If you were unfortunate enough to buy AMC at its peak in early June of last year, you would be down more than 90% today.
AMC shareholders are hungry for a break, and they could get one this week. Black Panther: Wakanda Forever hits theaters on Thursday night, and it's a lock to be the country's second highest-grossing film of 2022. More importantly, AMC itself reports financial results on Tuesday. There will be a lot of eyes on AMC Entertainment stock this week.
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Source Fool.com
