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AMC Gains as October Admissions Reach Highest Since Covid

Stock MarketsNov 01, 2021 10:17AM ET
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By Dhirendra Tripathi – AMC Entertainment stock (NYSE:AMC) rose 2% on Monday as the company said its October admissions, both in the U.S. as well as internationally, were highest for any month since February 2020, when Covid forced movie theaters to shut down.

The theater chain operator benefited from Halloween horror movies, which drew in the crowds during the month. The U.S. release of ‘Venom: Let There be Carnage’ and the James Bond-movie ‘No Time to Die’, the top grosser in the franchise, also attracted a huge audience. AMC also showcased the Fury Wilder heavyweight boxing match live from Las Vegas and the Metropolitan Opera (NASDAQ:OPRA) live from NYC during the month.

The operator of multiplexes was one of the worst sufferers as the pandemic shut its entire business. It rode the meme stocks wave and several rounds of fund-raising to survive.

The company has now embraced cryptos to resonate even more with its young audience. Three days back, CEO Adam Aron said the company’s IT team is writing code to soon start accepting online payments in Bitcoin (BitfinexUSD), Ethereum Ethereum, Litecoin Litecoin and Dogecoin DOGE/USD among others and asked his followers to suggest if it should include Shiba Inu SHIB/USD, the latest crypto ruling the craze.

AMC Gains as October Admissions Reach Highest Since Covid

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