What's Going On With AMC Entertainment Stock Monday?

AMC Entertainment Holdings Inc AMC shares are trading lower. The company on Monday announced a major expansion of Dolby Cinema at AMC theaters in the United States.

What Happened: AMC and Dolby Laboratories Inc DLB announced an expanded partnership to add 40 additional Dolby Cinemas at AMC locations in the U.S. through 2027.

The expansion will bring AMC’s total Dolby Cinema theaters to over 200. The companies also agreed to extend their commitment to the existing Dolby Cinema network.

“For a decade, AMC and Dolby have provided moviegoers with incredible premium experiences – making the biggest blockbusters even bigger, brighter, louder, and more immersive,” said Adam Aron, chairman and CEO of AMC Entertainment.

“The expansion of this partnership is a powerful demonstration of AMC’s ongoing commitment to deliver this premium experience – sought out by filmmakers, studio partners, and our guests – to even more of our theaters and AMC moviegoers around the United States.”

In addition to the new locations, AMC said it also selected Dolby Vision as its HDR offering of choice. The company noted that 49 of the top 50 movies over the past five years were shown in Dolby Cinema theaters.

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When AMC reported fourth-quarter financial results last quarter, the company noted that it planned to work on expanding its premium large format, extra-large format and special purpose screens in 2025.

Fourth-quarter attendance totaled 62.42 million, up 20.2% on a year-over-year basis. AMC said U.S. attendance came in at 42.96 million, up 21.1% year-over-year.

“As we look ahead to 2025 and beyond, we look forward to what we believe will be material growth in the industry-wide box office. To best benefit from such growth, we remain committed to continually improving the experience in our theatres for our guests,” Aron said last month.

AMC Price Action: AMC shares were down 2.13% at $2.82 at the time of publication Monday, according to Benzinga Pro.

Photo: Shutterstock.