AMC (AMC) shares tanked as much as 17% during the lows of the session on Wednesday after the Center for Disease Controls confirmed the first case of the omicron variant detected in California. The stock closed 15% lower at $28.57.
The latest superhero movie, Spider-Man: No Way Home, has sizzling pre-sales ahead of its Dec. 17 release. AMC also announced what looks like a potential crowd-pleaser among its Reddit retail investor "ape" fans, the issue of NFTs (non-fungible tokens) to advance tickets bought through its loyalty program. If the sell-off signals ape disenchantment, it represents a seriously negative shift for AMC -- but there's a potentially more upbeat explanation, one possibly containing a hint of bullishness.
LEAWOOD, Kan., November 30, 2021--AMC Theatres (NYSE:AMC), the largest theatrical exhibitor in the United States, in Europe & the Middle East and in the world, announced that as a result of the fervent response to tickets going on sale for SPIDER-MAN: NO WAY HOME on Monday, Nov. 29, AMC experienced its second busiest ticket sales day for a single movie title in the Company’s entire history. It also was the single busiest ticket sales day since AMC locations started their reopenings during the su