![]() For Aron that meant $12m or eight years of paycheques. Should potential investors be wary of Aron’s recent estate-planning activities? Following his July election to the chair, Aron announced a new policy requiring all executives to hold certain shares tied to multiples of executives’ annual salary. Start trading Try Demo Is the chair jumping ship? With ongoing pandemic worries and the culture shift to home streaming, anxieties still abound for cinema chains. Regarding NFTs, Aron said: “I can confirm to you today that we are now in conversation with multiple major Hollywood studios about the concept of joint venture commemorative NFTs related to major film titles that show in our theatres.” This could raise serious cash for the chain, given the current explosion the digital art movement is going through.ĭiversified revenue streams are seen as a survival mechanism as much as an opportunity. On top of announcing plans to accept payments via Bitcoin and potential other cryptocurrencies, there are ongoing discussions regarding the possibility of launching a unique AMC token. From 2022, the company aims to diversify its revenue streams through its AMC Theatres Perfectly Popcorn brand, set to be sold in malls, supermarkets and also via a delivery service.ĪMC also plans to enter the crypto and non-fungible token (NFT) scenes. And there are other weapons in the arsenal. Individual activists have armed AMC with a $1.8bn liquidity warchest. Spoiler alert: What is next for AMC?Īre AMC’s future prospects really so bad? Goodman predicted: “We currently believe that our adjusted EBITDA and our operating cash burn is likely to turn positive in the fourth quarter.” However: “While we are buoyed by our Q3 results and the momentum going into the fourth quarter, we do recognise that there is much work still to be done.” “The numbers clearly show our recovery trajectory,” said Sean Goodman, chief financial officer. Adjusted-EBITDA losses are still being reported, albeit to a better-than-expected sum of -$5m over the three-month period. The blockbuster drawing power of Dennis Villeneuve’s "Dune", Tom Hardy-starring "Venom: Let There Be Carnage" and Daniel Craig’s Bond swansong "No Time Time Die" brought global attendance count in the third quarter to 40 million people, nearly double Q2’s 22 million guests and close to six times the Q1 total.īut these figures will need to climb a lot more before reaching pre-pandemic levels: that 40 million is still only 46% compared to 2019 levels. In terms of bums on seats and associated snackbar sales (which currently bring in an average of $7.41 per patron against an average $10.98 ticket price), numbers are certainly rising. In an amusing statistic, meme-stock activists in Q2 snapped up three times as many shares as AMC sold movie tickets.Īdam Aron, AMC’s chief executive officer and chair, made scant mention of this shareholder buying bonanza, aside from a brief nod to the “thousands of our individual shareholders” likely in attendance, instead focussing on positive patronage numbers. In comparison, total losses in 2020 amounted to $39.15 per share.Īt face value that may sound like an incredible rebound, before you take into account shareholder dilution. But that figure actually improved on the consensus AMC stock price prediction of $0.53. Third-quarter statistics show reported per-share losses of $0.44. ![]() Read on to find out and be sure to view our AMC share price chart for the latest updates. Regardless, what are the key talking points following the Q3 report and what do analysts have in store for AMC stock predictions in 2021 and the following year? ![]() With individuals now accounting for over 80% of AMC’s shareholder base, one would hope that additional bandwidth on the earnings webcast was accommodated. This amounted to a mind-boggling 3,000% share price surge on the year’s opening, which then took an erratic dive to the low $40 mark where it hovers as of 9 November. AMC was then able to sell inflated shares to keep the struggling NYSE-listed American cinema chain afloat.įollowing the meme-stock rally, shares hit a mid-year high of $72.62, in stark contrast to the $344m in losses reported in that quarter. Meme-stock beneficiary AMC Entertainment's (AMC) third-quarter results, published on Monday, showed a surge in sales buoyed by moviegoers’ large-scale return to the screens, with cinemas back to operating at 100% capacity.Īn immensely turbulent year saw summer share sales explode on the back of a social media campaign aimed at punishing short-selling institutional investors. ![]()
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