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

AMC Entertainment Holdings Inc AMC shares are trading higher. The company on Monday announced attendance records for the Thanksgiving holiday period.

What Happened: AMC on Monday said the five-day Thanksgiving holiday period was the biggest and busiest in AMC history by attendance, admissions, revenue and food and beverage.

“This 5-day Thanksgiving period in 2024 was one for the ages. At AMC theatres in the United States and abroad, AMC welcomed more than 8 million moviegoers from Wednesday through Sunday. In the U.S., AMC shattered record after record for attendance, admissions revenue, food & beverage revenue and total revenue,” said Adam Aron, chairman and CEO of AMC.

Thanksgiving Day was the busiest in company history based on attendance and admissions revenue. Black Friday marked the highest attendance Black Friday in AMC history and the highest revenue total on a Friday ever. AMC also noted that this year’s Black Friday was the second highest total revenue day in company history.

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The strength was driven by a strong opening weekend for “Moana 2,” as well as continued strong performance from “Wicked,” “Gladiator II” and “Red One.”

“Beyond these blockbuster movies, there were so many appealing films – big, medium, and small – drawing great crowds to our cinemas this holiday period,” Aron said.

AMC said 8.8 million moviegoers attended a movie at AMC theaters in the U.S. and at ODEON Cinemas internationally during the Wednesday through Sunday Thanksgiving period.

AMC Price Action: AMC shares were up 3.54% at $5.12 at the time of publication, according to Benzinga Pro.

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