AMC CEO Adam Aron Highlights Movie Lineup To Keep Summer Revenues Sizzling

AMC Entertainment Holdings Inc. 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 to announce the upcoming theatrical releases, saying that the floodgates are opening after slow moviegoing in the first two months of this year.

See Also: 4 Major Announcements AMC Entertainment Has Made Since 2019

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 BTC/USD for payments, and a retail popcorn launch.

Earlier this month, AMC started to accept Dogecoin DOGE/USD and Shiba Inu SHIB/USD 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.

Read Next: Meme Stocks Are Running Up In After-Hours Trading As GameStop, Koss Continue Surge

Photo by Ser_Amantio_di_Nicolao on Wikimedia 

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