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AMC Jumps After ‘Spider-Man’ Film Breaks Box Office Records -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — AMC Entertainment Holdings Inc (NYSE:) share price closed Friday up 19% after initially rising 23%, on the back of news that the film “Spider-Man: No Way Home” has broken AMC box office records. 

Market commentators think cinema is dead. Could this lead to some rethinking? 

Although we won’t know the answers to that question for a while, it is a good news story that investors are encouraged by recent gains. 

It was released at AMC Cinemas USA last night and became the highest-grossing film on the opening night of the chain’s cinema chain. It was also the second-highest-grossing film on AMC’s opening night, behind only “AVENGERS: ENDGAME” from 2019.

AMC estimates that approximately 1.1 Million people saw the movie at an AMC U.S. theatre on Thursday.

“Needless to say, we are ever so happy to see a record-setting number of people returning to the cinema to capture the magic offered at AMC movie theatres,” said Adam Aron, AMC chairman and CEO.

Aron added, “Spider-Man clearly indicates to us that consumers in large numbers desire the experience that only AMC theatres can provide.”

 

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