Movie Theater Stocks Plummet After Modest ‘Avatar 2’ Opening Weekend
IndieWire already told you that “Avatar: The Way of Water” alone is not the savior that the box office needed, but now Wall Street is taking notice. AMC Entertainment (AMC) and Cinemark (Cnk) stocks both took steep dives on Monday, a strong suggestion that some market watchers expected more at the box office from the final blockbuster of 2022.
Shares in AMC dropped 8.26 percent on Monday, when Cinemark sunk 10.30 percent (Cnk has rallied back a few points in after-hours trading). IMAX closed the first trading day after the “Avatar 2” opening weekend down 5.76 percent. Disney, the studio behind “Avatar: The Way of Water,” declined 4.77 percent to hit a low point not seen since 2014. The overall stock market was far closer to flat on Monday.
So why the pessimism for these four players? James Cameron’s “Avatar” sequel brought in 134.1 million over the weekend, an impressive figure and one of the larger...
Shares in AMC dropped 8.26 percent on Monday, when Cinemark sunk 10.30 percent (Cnk has rallied back a few points in after-hours trading). IMAX closed the first trading day after the “Avatar 2” opening weekend down 5.76 percent. Disney, the studio behind “Avatar: The Way of Water,” declined 4.77 percent to hit a low point not seen since 2014. The overall stock market was far closer to flat on Monday.
So why the pessimism for these four players? James Cameron’s “Avatar” sequel brought in 134.1 million over the weekend, an impressive figure and one of the larger...
- 12/20/2022
- by Brian Welk
- Indiewire
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