AMC Stock Soars 33% on Strong Box Office Openings for “Barbie” and “Oppenheimer”

AMC Stock Soars 33% on Strong Box Office Openings for “Barbie” and “Oppenheimer”

AMC Entertainment Holdings Inc.’s stock price rose by 33% on Monday to $5.85. This is the first trading day after the blockbuster opening weekends of the movies “Barbie” and “Oppenheimer”. The stock price also rose because a court ruled against the movie theater chain’s board on a stock conversion plan.

The opening weekends of “Barbie” and “Oppenheimer” were both very successful. “Barbie” grossed over $270 million worldwide, while “Oppenheimer” grossed over $120 million worldwide. These two movies are helping to boost AMC’s revenue, which is why the stock price is rising.

The court ruling against the stock conversion plan was also a positive catalyst for AMC’s stock price. The plan would have allowed AMC to issue new shares, which would have diluted the value of existing shares. The court’s ruling prevented this from happening, which is why investors are buying AMC stock.

Overall, the news for AMC is positive. The company is benefiting from the success of “Barbie” and “Oppenheimer”, and the court ruling against the stock conversion plan is also a positive development.

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