Movie Theater Stocks Rise After Record-Setting Thanksgiving Feast
deadline.comMovie theater stocks moved higher Monday in the wake of the biggest Thanksgiving ever at the domestic box office. Spurred by Moana 2‘s debut and strong carryover business for Gladiator II and Wicked, shares in AMC Entertainment, Cinemark, Imax, National CineMedia, Marcus Corp.
and specialty theater parent Reading International all rose. Heading toward the final bell, the stocks were up between 1% and 5% on the day.
AMC, the No. 1 global circuit, and top-tier player Cinemark both announced record ticket and concession sales for the 5-day holiday span, with overall ticket sales reaching $420 million, according to Comscore.
Attendance at AMC totaled 8.8 million moviegoers around the world, the company said, with many patrons returning multiple times during the extended weekend.
Read more on deadline.com
