AMC Entertainment Stock Gains After Record-Breaking Weekend

"Avengers: Endgame" brought in more than 2.6 million ticket sales on Saturday for AMC

Managing Editor
Apr 29, 2019 at 10:54 AM
facebook X logo linkedin


On the heels of an "Avengers: Endgame" record-breaking weekend, shares of AMC Entertainment Holdings Inc (NYSE:AMC) are up 0.6% at $15.49 in this morning's trading. The movie theater chain reported single-day record highs for attendance, and food and beverage sales this past weekend, the latter marking all-time highs both Friday and Saturday. Specifically, for food & beverage sales AMC made $13 million Friday and another $15 million Saturday, with 2.6 million tickets sold on the latter day.

Despite the impressive start, Wedbush lowered its price target to $20 from $22, though  still representing a 29% upside to Friday's close. Overall analysts were leaning optimistic coming into today, with five of nine covering firms sporting "strong buy" recommendations, and the remaining carrying a tepid "hold." Just near Wedbush's adjusted price, AMC's average 12-month price target stands at $19.24.

Short interest on the movie theater giant fell 8.8% during the past two reporting periods, and now accounts for 17.3% of the stock's total available float. This means that at AMC's average pace of daily trading, it would take shorts over a week to buy back their bearish bets.

On the charts, AMC Entertainment stock has had a volatile run, most recently seen stuck below the $16 ceiling of resistance, despite a recent bull-gap breakout attempt that sent the shares to a nearly five-month peak. Regardless, the equity has tacked on 25% year-to-date. Looking ahead, AMC is scheduled to report first-quarter results before the market opens, next Thursday, May 9.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI