AMC Entertainment Shares Soar Over 135% as Roaring Kitty returns to Short-Seller Trading, But One Analyst Remains Neutral. from fox entertainment Watch Video
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⏲ Duration: 0:36 👁 View: 235K times ✓ Published: 17-May-2024
Description: AMC Entertainment shares rallied over 135% in the first two days of the week due to a resurgence of meme stock trading fueled by Roaring Kitty's return. However, Barrington analyst James Goss maintained a Neutral rating, noting AMC's Q1 revenue fell slightly. Box office revenues in April were down around 50% and May box office sales have been sluggish compared to 2023 levels. Goss expects the challenging environment for AMC to persist through most of 2024 before potentially rebounding in 2025.