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AMC Entertainment and Cinemark Rally as 'Top Gun' Sequel Released

Stock Markets May 27, 2022 03:30PM ET
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© Reuters

By Sam Boughedda

Investing.com -- Shares of both AMC Entertainment (NYSE:AMC) and Cinemark (NYSE:CNK) are trading higher Friday due to expectations for the hotly anticipated "Top Gun" sequel.

AMC Entertainment, which fell below $10 per share earlier this month and is down around 50% this year, is trading more than 17% above Thursday's close with Cinemark up 5.5% in the last hour of Friday trading.

The movie, which has been delayed a number of times due to the coronavirus pandemic, is expected to be one of the biggest box office hits this year.

According to a tweet from Gitesh Pandya, Founder and Editor of Box Office Guru, the film has already become the all-time biggest preview record for Paramount and the biggest ever for Memorial Day holiday weekend.

"Massive launch for #TopGunMaverick with $19.26M from previews held on THU and before. New all-time biggest preview record for Paramount & biggest ever for Memorial Day holiday wknd. Huge FRI/SAT/SUN/MON ahead with broad appeal," wrote Pandya.

He added that the film's star, Tom Cruise, is having the biggest opening weekend of his whole career.

AMC Entertainment and Cinemark Rally as 'Top Gun' Sequel Released
 

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Comments (2)
Ethel Basset
Ethel Basset May 27, 2022 6:39PM ET
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NEVER HOLLYWOOD! SPEND YOUR MONEY ELSEWHERE!
dav lo
dav lo May 27, 2022 6:07PM ET
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Same rise during Spiderman release last month but drop more after that bounce. Hope the price can be recovered
 
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