AMC stock soars again after big ‘Black Panther: Wakanda Forever’ opening, but Cinemark and Imax shares fall

AMC Entertainment Holdings Inc. said Monday that more than 4.9 million people went to its movie theaters over the Thursday-to-Sunday weekend, making it he fourth-highest attended weekend of 2022. The company said its weekend box office performance was driven primarily by the opening of Marvel’s “Black Panther: Wakanda Forever,” which took in $180 million over the weekend, according to estimates from The Walt Disney Co. , as the Associated Press reported. AMC’s “meme” stock surged 11.5% in premarket trading, after rocketing 38.7% over the past two sessions. Meanwhile, shares of fellow movie theater operator Cinemark Holdings Inc. fell 0.2% premarket, after saying “Black Panther: Wakanda Forever” was its biggest-ever opening weekend for a November release. And Imax Corp.’s stock shed 1.0% premarket, after the theater operator said it took in $22.6 million from the movie’s opening weekend, with the movie scoring the biggest IMAX November opening weekend ever in 26 markets. The stocks’ moves come as futures for the S&P 500 slipped 0.2%.

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