AMC Entertainment Holdings (NYSE: AMC) started off in a hole on Monday morning, dropping 2.4% out of the gate, but then, as they like to do, traders sent shares soaring, up 10% to a high of $12.66 per share. Despite a better-than-expected performance in the first quarter, AMC's stock has not benefited from the improved results. Heading into the summer box office season and with a slate of big-ticket movies scheduled to be released throughout the second half of the year, AMC believes it can achieve parity with 2019 revenue and generate positive operating cash flows by the end of the year.
AMC Entertainment Group (NYSE: AMC) has had a wild ride in the last few years. Then it was part of the epic meme-stock frenzy of 2021 when retail investors grouped to buy and hold downtrodden businesses. Fortunately, with the help of retail investors, AMC has survived the worst of the pandemic.
We've seen this movie before only to watch dip-buyers get fleeced — but money managers are now warming to the idea of a material bounce in stocks.