AMC Entertainment Holdings (AMC) witnessed a record-breaking Batman debut, which is expected to compete with Marvel’s ‘Spiderman: No Way Home.’ However, the investors seem less excited about the new premium ticket pricing announced. Earlier AMC had released a Batman NFT as well.
AMC CEO had announced during its earnings call that the theater chain would hike the ticket prices specifically for ‘The Batman.’
However, AMC is not the only one to have increased the ticket price. Regal and Cinemark had already raised the ticket prices for ‘Spiderman: No Way Home’ and have done the same for ‘The Batman.’
‘The Batman’ grossed around $128 million becoming the second-best opening of the Pandemic after ‘Spiderman: No Way Home’ that grossed over $260 million in its opening weekend.
On Friday, the shares of AMC plummeted by around 8.25% and closed the week trading at $16.57. AMC CEO Adam Aron made a tweet where Batman was seen looking at the dollar symbol in the sky, which could have a hidden meaning of Batman getting a record revenue for AMC.
Aron also referred to the Rorschach Test, which means analyzing the psychology of a person by seeing their perception of inkblots, here, the image. AMC’s stock had performed considerably better after ‘Spiderman: No Way Home’ was released.
The stock has gone down around 37% year-to-date, and despite having a blockbuster season, AMC Entertainment hasn’t successfully attracted many moviegoers.
Batman, the much-anticipated movie, has debuted this weekend, also getting some revenue for the theatre chain. The movie tallied $128.5 million at the domestic box office, making it the second-highest opening of the pandemic, the first one being Marvel Entertainment’s ‘Spiderman: No Way Home.’
Stock Performance
With a market capitalization of $8.506 billion, the AMC stock did well in the pre-market trade on Monday. AMC maintained its stock price at around $16.90, up 0.32 points (+1.93%). IMAX stock went down around 5%, trading at $19 (-1.04 points) in the pre-market trade, while Cinemark Holdings (CNK) stock traded down 0.87% at $17.14 (-0.15 points).
