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AMC Entertainment Holdings (NYSE: AMC) has benefited from something that seemed unthinkable in recent years: record ticket sales. The world's largest movie theater chain suffered in recent years as numerous headwinds reduced movie attendance.
Nonetheless, the industry reported $4.76 billion in North American summer box office revenue, a record high. Now, after AMC briefly became a meme stock, years of struggle have taken its price to low levels. Does that position it for a comeback? Let's take a closer look.
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After the aforementioned stint as a meme stock, AMC became a penny stock as reality set in. Even after the pandemic took a toll on attendance, the movie chain found itself competing with other forms of entertainment and with the growing ability of some consumers to mimic the movie theater experience at home.
