AMC Shares Pop As The Minions Return To Work

Zinger Key Points
  • AMC shares neared a 6% increase Friday morning as new blockbuster movie is set to open
  • The new installment of the Minions franchise is expected to bring a revenue boost for theaters worldwide

As the new installment of the Minions franchise opened Friday, AMC Entertainment Holdings, Inc. (NYSE: AMCstock rose to $14.31 as it neared a 6% jump in value earlier in the session. 

AMC shares were trading negative as Friday's trading session drew to a close. 

What The Minions Mean For AMC: The franchise as a whole — which includes three Despicable Me movies and the "Minions" movie – has made a total of $3.7 billion at the box office, according to Deadline. 

The previous movies are loved by adults and kids alike as the animated comedy has become a household title for many families around the world.  

This week's new movie “Minions: The Rise of Gru” comes five years since the last installment was released in 2017. 

The last movie — "Despicable Me 3" — brought in $1.035 Billion for Universal Pictures which is a subsidiary of parent company Comcast Corporation (NASDAQ: CMCSA). 

As the movie opens, investors and traders are expecting the movie to have great success at the box office this holiday weekend.

While movie theaters have been struggling post-COVID lockdowns, there are signs of hope that people are returning to theaters. The long awaited “Top Gun: Maverick” was able to raise over $1 billion for Paramount Global PARA in just one months time. 

Also Read: AMC CEO Touts ‘Top Gun’ And Taunts Short Sellers After Shares Popped 12% At Monday Close

The new Minions movie is predicted to raise $150 million worldwide in its opening weekend, which would pass Top Gun: Maverick’s opening of $126 million.

The future looks bright for Gru and his Minion friends as the movie receives high praises from both audiences and critics around the globe.

Photo: Courtesy of Paul Sableman on flickr.

Posted In: EntertainmentLong IdeasMediaTrading IdeasGeneral

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