Movie Theater Stocks Rise After Record-Setting Thanksgiving Feast
Movie theater stocks moved higher Monday in the wake of the biggest Thanksgiving ever at the domestic box office.
Spurred by Moana 2‘s debut and strong carryover business for Gladiator II and Wicked, shares in AMC Entertainment, Cinemark, Imax, National CineMedia and Marcus Corp. rose between 1% and 5% on the day. Reading International, which owns specialty theaters including New York’s Angelika Film Center, jumped 12%, partly due to recent interest from potential takeover suitors. Canada’s Cineplex gained 5.5% on the Toronto Stock Exchange.
AMC, the No. 1 global theater circuit, as well as Regal Cinemas and Cinemark announced record ticket and concession sales for the 5-day holiday span. Overall ticket sales reached $420 million, according to Comscore. Attendance at AMC alone totaled 8.8 million moviegoers around the world, the company said, with many patrons returning multiple times during the extended weekend. AMC CEO Adam Aron pronounced the holiday “one for the ages” for the tempest-tossed exhibition business.
Spurred by Moana 2‘s debut and strong carryover business for Gladiator II and Wicked, shares in AMC Entertainment, Cinemark, Imax, National CineMedia and Marcus Corp. rose between 1% and 5% on the day. Reading International, which owns specialty theaters including New York’s Angelika Film Center, jumped 12%, partly due to recent interest from potential takeover suitors. Canada’s Cineplex gained 5.5% on the Toronto Stock Exchange.
AMC, the No. 1 global theater circuit, as well as Regal Cinemas and Cinemark announced record ticket and concession sales for the 5-day holiday span. Overall ticket sales reached $420 million, according to Comscore. Attendance at AMC alone totaled 8.8 million moviegoers around the world, the company said, with many patrons returning multiple times during the extended weekend. AMC CEO Adam Aron pronounced the holiday “one for the ages” for the tempest-tossed exhibition business.
- 12/2/2024
- by Dade Hayes
- Deadline Film + TV
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