AMC Entertainment Holdings Inc. (NYSE: AMC) is the largest movie-theater operator in the United States. Following a difficult pandemic year, the company has opened back up in several states, the most recent being California, where AMC generates a large percentage of its revenue. California is the heart of the film industry and home to America’s largest movie-going population.
Investors see reopening as a sign that AMC will begin to recover the losses that it has suffered over the previous year. With the government now promising that most of the population will be vaccinated before the end of 2021, theater attendance is likely to increase dramatically.
The stock was up an impressive 25.81% in yesterday’s session, and there could be more growth to come. Each share now trades for more than twice the high-end target price, which is likely to force analyst revisions.
There’s a lot of speculation in this stock but it is based on some positive signals. As America returns to normal, the movie theater industry will bounce back. This is one of the best stocks to watch as it will leverage the recovery.
- 1 Year Price Growth: 13%
- YTD Price Growth: 26%
- 3 Month Price Growth: 91%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.