Rally

Million

Optimism

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AMC Entertainment released a quarterly earnings report this week and posted a jump in revenue and attendance.&nbsp;&nbsp;</a> </li> 
 <li> <span>2</span> <a>AMC stock price moved nearly 4% following the report.&nbsp;</a> </li> 
 <li> <span>3</span> <a>In the monthly time frame, AMC stock is over 15%.&nbsp;</a> </li> 
</ul> 
<p>The American theater operator company, AMC Entertainment Holdings Inc. (NYSE: AMC), posted quarterly earnings on Tuesday, August 8th, 2023. AMC stock price rose over 3% on the earnings release day. An increase in quarterly revenue and attendance like crucial metrics boosted the optimism around the stock.&nbsp;</p> 
<p>AMC posted revenue of $1.35 Billion for the quarter that ended in June 2023 marking a 16% increase year-over-year (YoY). This growth in revenue suggests the company is witnessing recovery following a tough time, especially during the pandemic.&nbsp;</p> 
<p>CEO Adam Aron stated that AMC theaters worldwide saw an increase in the number of customers as there were more than 66 Million footfalls reported for Q2 2023. This was the highest since the pre-pandemic numbers, specifically in Q4 2019.&nbsp;</p> 
<p>The entertainment company made a net income of $8.6 Million with the earnings per share (EPS) remaining at 1 cent per share. The income marks another tale of recovery since the company had burned with a loss of over $121 Million a year ago.&nbsp;</p> 
<p>The adjusted EBITDA rose to $182.5 Million for the quarter from $106.7 Million YoY.&nbsp;</p> 
<p>AMC closed the quarter with a cash holding of $435.3 Million. The existing liquidity for the company which includes cash and a revolving credit facility stood at $643.4 Million.</p> 
<h2 class="wp-block-heading" id="strong-amc-to-benefit-from-increase-in-theatre-attendance-strong"><strong>AMC to Benefit From Increase in Theatre Attendance</strong></h2> 
<p>The theater company could expect positive earnings for the upcoming quarter given the immediate reason including the increase in attendance. Aron noted that the domestic industry box office pumped 20% this year.&nbsp;</p> 
<p>“We believe the second half of the year could be even better unless the current writers/actors strikes wind up delaying the release of movie titles into next year. The third quarter of 2023 is off to an explosive start with BARBIE, OPPENHEIMER, MISSION IMPOSSIBLE – DEAD RECKONING PART ONE, and SOUND OF FREEDOM, among others, combining to cause July 2023 to have the highest monthly revenue in AMC’s storied 103-year history.”</p> 
<h2 class="wp-block-heading" id="strong-amc-stock-price-movement-strong"><strong>AMC Stock Price Movement</strong></h2> 
<p>As mentioned earlier, <a href="https://www.thecoinrepublic.com/2023/07/14/amc-entertainment-holdings-inc-stock-price-prediction-july-2023/" rel="noopener noreferrer nofollow">AMC stock price</a> saw an increase of nearly 4% in the intraday trading session on Tuesday, August 8th. However, it could not sustain the up move for long, and for the past two days, the stock traded in red. Yesterday, it closed the trading session at $4.90 falling 3.7% in the last 24 hours.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/qtXJnm7bOgGB8nPm4QC7tHHgo4fjAy3OZNvdOuvGBWNY3nCojR7N1SN7sh5y8zXH0WwBgDHSXeyi0-GZc-yHTdOjdiUsutWmh4Pleup3wG--R-fkrSDkO_NdmhqFj2CZLqRAsRYGVbH_9GpdLk45OA" alt="AMC Stock Price Anticipates Rally Following Optimism Post-Earnings"> 
  <figcaption class="wp-element-caption">
    Source: AMC Entertainment Holdings Inc (NYSE: AMC) Stock Price Movement on <a href="https://www.tradingview.com/x/J9WMXP8I/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Given the current price level, AMC stock is below 200-day moving average while being above the 50-day moving average. If the decline continues, the stock could test the immediate support of $4.5.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

AMC Stock Price Anticipates Rally Following Optimism Post-Earnings

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Thecoinrepublic.com

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