An Unlikely Partnership Sparks a Box Office Boost


In an unexpected twist, a pair of films debuted in theaters over the weekend, propelling movie exhibitor stocks to new heights. One standout in particular, AMC Entertainment, garnered attention not just for its popularity among retail traders, but for other positive factors as well.

The two films in question, Barbie and Oppenheimer, represent opposite ends of the cinematic spectrum, with one taking a comedic approach and the other delving into more serious subject matter. Leading up to their release, both movies generated significant buzz on social media, giving rise to the combined nickname “Barbenheimer.” This buzz translated into strong performance at the box office, with Barbie raking in an impressive $155 million and Oppenheimer earning a respectable $81 million during their opening weekend.

As a result, AMC shares experienced a substantial 30% increase, while IMAX saw a more modest gain of 5.9%, and Cinemark rose by 1.2% on Monday. Notably, these movie theater chains have already witnessed impressive growth this year, with increases of 41%, 19%, and 81% for AMC, IMAX, and Cinemark, respectively. These gains indicate that the revitalization of the movie industry is proving to be a stronger catalyst for stock performance than mere meme status. In other words, it appears that a thriving business model trumps fleeting social media fame when it comes to attracting investors.

Overall, this unexpected collaboration between Barbie and Oppenheimer has surpassed expectations, not only captivating audiences but also ushering in newfound success for movie exhibitors. As the curtain rises on this revitalized era for cinemas, industry insiders eagerly await the next wave of films that will captivate audiences and continue to drive growth in this resurgent sector.

Box Office Success for Movie Theaters

AMC and Cinemark report record-breaking attendance and revenue as moviegoers flock back to theaters.

AMC Theaters: From Thursday to Sunday, more than 7.8 million people visited AMC theaters, resulting in the highest attendance and admissions revenue in a single weekend since 2019. This surge in numbers can be attributed to the success of recent releases like Oppenheimer and Mission: Impossible — Dead Reckoning Part One.

Cinemark: Cinemark also experienced a boost in performance, with previously-released films such as Mission: Impossible — Dead Reckoning Part One and Sound of Freedom contributing to their success.

IMAX: Oppenheimer performed exceptionally well for IMAX Corp., raking in $35 million on 740 screens worldwide. The film’s opening weekend box office saw IMAX securing its largest share ever, accounting for 20% of the total receipts.

Analyst Eric Wold from B. Riley Securities expressed optimism about these results, emphasizing the importance of showcasing strong moviegoing demand post-pandemic. He also noted that non-sequel titles have the potential to drive consumers back to theaters.

AMC’s recent stock movement also deserves attention. A judge recently blocked the company from converting their APE (APE) shares into common stock. However, AMC has filed a revised stock conversion proposal to address the court’s concerns. CEO Adam Aron expressed hope that the plan will move forward shortly, pending approval from the court.

AMC Shares Reach New Highs Amidst Meme-Stock Frenzy

The roller coaster ride for AMC shares continues, with the stock reaching impressive heights. In June 2021, AMC shares surged as high as $44.61, during the infamous meme-stock frenzy.

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