- The stock price of AMC Entertainment Holdings Inc (NYSE: AMC) increased today. This is why it happened.
The stock price of AMC Entertainment Holdings Inc (NYSE: AMC) increased today. Investors are responding positively to Disney deciding that the rest of its films for 2021 will have an initial release that is exclusive to the movie theatres rather than releasing it simultaneously with streaming services.
AMC was hit particularly hard during the pandemic as it had to shut down many of its theatres back in March 2020. The company started reopening select theatres again in August 2020. AMC had benefitted from a wider series of short squeezes that was coordinated by the Reddit community r/wallstreetbets. At that point, AMC became heavily favored by investors who are active on multiple social media platforms.
One of the reasons why Disney decided to keep its releases exclusive to movie theatres is due to the success of Marvel’s Shang-Chi and the Legend of the Ten Rings. At the box office, the film saw receipts of $166 million worldwide as of the end of the first week in theatres.
By the end of the year, Disney will be releasing the following films in theatres: The Last Duel, Ron’s Gone Wrong, Eternals, Encanto, West Side Story, and The King’s Man.
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