What’s Going On With AMC Entertainment Stock On Thursday?

AMC Entertainment Holdings, Inc (NYSE:AMC) is trading up Thursday, reversing its Wednesday losses. The stock is up over 7%.

The American movie theater chain got a boost from Imax Corp’s (NYSE:IMAX) upbeat second-quarter print on Thursday.

The Canadian production theatre company’s quarterly sales were $88.96 million, down 9% year over year, beating the analyst consensus of $76.01 million. EPS of $0.18 surpassed the consensus estimate of $0.07.

Imax increased its 2024 Imax system installation guidance to 130 – 150, up from 128 for 2023, as it looks to tap new releases from its reputed filmmaking partners and studio franchises and a record of at least 14 films shot with IMAX cameras in 2025. Imax is up close to 7%.

AMC’s second-quarter guide disappointed the Street on Wednesday. However, Chair and CEO Adam Aron flagged a bullish outlook for theater movie-going as it recovers from actors’ and writers’ strikes.

He highlighted the boost in daily revenue from June 2024, continuing in July, with continued box office momentum in the second half of 2024 and into 2025 and 2026.

In July, B. Riley Securities analyst Eric Wold noted AMC has a 51% market share of IMAX screens in the US. Wold projected a box office rebound in 2025, backed by a robust pipeline and shelved titles from 2024.

Price Action: AMC shares traded higher by 8.42% at $5.08 at last check Thursday.

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