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Could ‘The Odyssey’ lead the 'apes' back home to AMC shares?
CNBC • • business
Key Points:
- AMC options trading surged with over 300,000 contracts traded, nearly five times the 30-day average, driven by bullish flows and strong call buying following the record-breaking box office success of "The Odyssey."
- AMC reported earnings that exceeded analysts' expectations, showing double-digit revenue growth, and the company saw 4.3 million global theater guests over the weekend, according to CEO Adam Aron.
- AMC shares have climbed nearly 150% over the past four months, though they remain 99% below their 2021 all-time high of over $700, reflecting ongoing volatility since the meme stock peak.
- More than $6 million in options premiums changed hands on Monday, with the majority tied to call contracts expiring in August, indicating continued speculative interest in AMC's near-term stock movement.
- CEO Aron highlighted a post-Covid resurgence in movie theater attendance, noting that studios are increasingly producing films designed specifically for the big screen, contributing to AMC's recent momentum.
