AMC Entertainment Holdings Inc. (NYSE: AMC) CEO Adam Aron on Tuesday highlighted the forthcoming movie releases for March and April, as the movie theater chain continues to see an improvement in foot traffic.
What Happened: Aron took to Twitter (NYSE:TWTR) to announce the upcoming theatrical releases, saying that the floodgates are opening after slow moviegoing in the first two months of this year.
Moviegoing was slow in Jan and Feb, but then came The Batman. And now: the floodgates open! 3/25 The Lost City, 4/1 Morbius, 4/8 Sonic the Hedgehog 2 & Ambulance, 4/15 Fantastic Beasts & Father Stu, 4/24 Massive Talent. And then, summer blockbusters start coming over and over !!! pic.twitter.com/9Py9nOg8yw— Adam Aron (@CEOAdam) March 23, 2022
Why It Matters: In early March, AMC Entertainment reported a narrower-than-expected loss for the fourth quarter, while quarterly revenue was the highest for the company in two full years.
AMC’s recent growth initiatives include the launch of non-fungible tokens (NFTs), accepting cryptocurrencies such as Bitcoin (CRYPTO: BTC) for payments, and a retail popcorn launch.
Earlier this month, AMC started to accept Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) for online payments.
The moves underscore the company’s intentions to better connect with its newfound backers — the retail investors who are highly enthusiastic about cryptocurrencies.
Price Action: AMC shares closed 15.1% higher in Tuesday’s regular trading session at $18.26 and further rose 10.8% in the after-hours session to $20.23.
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