AMC Entertainment Stock Is Surging Monday: What's Going On?

AMC Entertainment Holdings Inc AMC shares are trading higher. The company on Monday announced it saw its highest domestic revenue ever during the pre-Thanksgiving weekend.

What Happened: AMC announced that it saw its highest domestic revenue, including admissions, food and beverage, in company history over the weekend. The pre-Thanksgiving weekend was the highest domestic admissions revenue since 2019 and the third highest domestic admissions revenue in AMC history.

AMC welcomed 4.6 million moviegoers across all of its theaters in the U.S. and internationally from Thursday to Sunday. AMC said the attendance strength was driven by strong opening weekends from “Wicked” and “Gladiator II.”

“This past weekend’s result is yet another demonstration that moviegoers want to see these films on the biggest screens, with the biggest sounds, and that theatrical exhibition is ready and able to support multiple blockbuster titles opening on the same weekend,” said Adam Aron, chairman and CEO of AMC Entertainment.

AMC noted that its merchandise program for “Wicked” was well received with collectibles selling out about halfway through the weekend. The company also announced that select AMC locations will offer “Wicked Singalong” showtimes starting in late December.

AMC noted that it expects to remain busy heading into the Thanksgiving holiday weekend with the highly anticipated “Moana 2” release set for Wednesday.

Don’t Miss: ‘Wicked,’ ‘Gladiator II,’ ‘Moana 2’ Could Break Thanksgiving Weekend Box Office: Stocks To Watch

AMC Price Action: AMC shares were up 4.95% at $4.77 at the time of publication, according to Benzinga Pro.

Photo: Paul Sableman from Flickr.