AMC stock briefly surges on Devil Wears Prada 2 box office success
AMC Entertainment shares saw a brief surge this week after The Devil Wears Prada 2 drew millions to cinemas. The film’s $233 million global debut initially pushed the stock up by 5.2%. However, gains faded by the end of trading, leaving shares nearly flat.
The company’s stock opened strongly on Monday following the box office success of The Devil Wears Prada 2, which attracted 4.4 million viewers over its opening weekend. Investors reacted quickly, driving AMC’s share price higher in early trading.
Despite the early momentum, the stock closed at $1.47—just 0.3% above its starting point. This left it 63.5% below the 52-week high of $4.01, a level last seen in mid-2023. AMC has experienced sharp price swings over the past year, with movements exceeding 5% on 31 separate trading days. The most recent notable jump came 12 days ago, when shares rose 3.3% after news of an extended ceasefire between the US and Iran. Wall Street remains cautiously optimistic about the cinema chain’s prospects. Analysts project an 11.2% year-over-year revenue increase for Q1 2025, with a consensus price target of $1.92—well above the current $1.47. The company has already beaten expectations in its last quarter, reporting $1.29 billion in sales. AMC’s recent performance has outpaced the broader consumer discretionary sector, which averaged 7% gains over the past month. The cinema operator, however, has climbed 18.3% in the same period. Investors now await the Q1 2025 earnings report, due after markets close on Tuesday.
The cinema chain’s stock remains volatile, with analysts maintaining a $1.92 target despite recent fluctuations. AMC’s upcoming earnings release will provide further insight into whether its financial recovery is gaining traction. For now, shares continue to trade far below their peak from a year ago.
