AMC Company profile
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AMC Entertainment Holdings, Inc (AMC) is an American theatrical exhibition company, operating the largest cinema chain in the world. Headquartered in Leawood, Kansas, it conducts operations through two segments: US markets and International markets. In the US, it has the largest share of the market ahead of Regal Cinemas and Cinemark Theatres.
The company’s theatrical exhibition revenues are generated primarily from box office admissions, theatre food and beverage sales. The balance of its revenues comes from ancillary sources, such as on-screen advertising, rental of theatre auditoriums, customer frequency membership programme, gift cards, exchange tickets, online ticketing fees and arcade games located in theatre lobbies.
AMC Entertainment stock is listed on the New York Stock Exchange (NYSE) under the ticker symbol AMC. It is a constituent of the Russell 2000 Index, a stock market index comprising 2,000 small-capitalisation American companies.
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AMC Theatres was founded in 1920. The company was growing quickly and in 1983 held its initial public offering. It built its first overseas multiplex in the UK in 1985 and in 1995 opened the first North American megaplex in Dallas, Texas.
In 2004, the company was acquired by an investment firm Marquee Holdings, Inc. To expand its presence in the US, AMC purchased Loews Theatres in 2006 and Kerasotes Showplace Theatres in 2010. In 2012, AMC Theaters was acquired by Chinese conglomerate Wanda Group, which bought majority control of the exhibition giant for $2.6bn.
In 2016, AMC Theatres acquired Odeon Cinemas, UCI Cinemas and Carmike Cinemas, becoming the largest movie theatre chain in both the world and the US. In 2018, Silver Lake Partners made a $600m investment in the business, with proceeds used to repurchase approximately 3 per cent of Wanda Group's class B common stock.
In March, 2020, all AMC theatres were temporarily closed due to the Covid-19 pandemic. The majority of them were then reopened by the end of August, 2020.
With Capital.com’s AMC live share price chart, you can not only quickly view the current value of the AMC Entertainment shares, but also trace the company’s stock price in historic terms.
The AMC share price reached its all-time high of $36 in March 2015. It then started to fall rapidly, bottoming out at $19 in January 2016. Another uptrend then carried the stock higher, peaking at $35 per share by November 2016.
For the next few years, with the exception of occasional, short-lived positive fluctuations, AMC shares had been on a gradual slide. By April 2020, the share price plummeted to $2, partially in response to the Covid-19 outbreak, and closed the year at $2.12. On January 5, 2021, the stock fell to $1.98. However, later the same month, the shares soared to a multi-year high of $20.38, pushing the company’s market capitalisation to more than $3bn for the first time since 2017.
The rally was driven by retail traders who teamed up against the Wall Street short sellers and short squeezed the company’s stock, along with GameStop (GME), BlackBerry (BB) and Bed Bath & Beyond (BBBY). But the momentum was short-lived and already on February 11, 2021, the stock closed the trading session at $5.5 per share.
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