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Benzinga
  • 2 years ago
AMC Entertainment shares rallied over 135% in the first two days of the week due to a resurgence of meme stock trading fueled by Roaring Kitty's return. However, Barrington analyst James Goss maintained a Neutral rating, noting AMC's Q1 revenue fell slightly. Box office revenues in April were down around 50% and May box office sales have been sluggish compared to 2023 levels. Goss expects the challenging environment for AMC to persist through most of 2024 before potentially rebounding in 2025.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02AMC Entertainment shares rallied over 135% in the first two days of the week
00:07due to a resurgence of meme stock trading fueled by Rory Kitty's return.
00:11However, Barrington analyst James Goss maintained a neutral rating,
00:15noting AMC's Q1 revenue fell slightly. Box office revenues in April were down
00:20around 50% and May box office sales have been sluggish compared to 2023 levels.
00:25Goss expects the challenging environment for AMC to persist through most of 2024,
00:29before potentially rebounding in 2025. For all things money, visit Benzinga.com.
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