Movie theater-related stocks, which had been rising recently, surged in the US stock market on the 10th. Immediately after its release, the movie “The Super Mario Bros. Movie” attracted the audience.
US movie theater chainCinemark Holdings since August last yearreached a high. In addition to Super Mario, Nike and former US basketball player Michael Jordan’s movie “AIR” released, the company announced that the number of audiences on the 8th was the highest since Christmas 2019.
The closing price of IMAX was also the highest in over a year. The company said Super Mario’s weekend box office grossed $21.6 million worldwide, making it the highest-grossing animated film ever.
It announced that the number of weekend spectators in the United States was the third highest since December 2019.AMC Entertainment Holdings rose 6.9%.operating a movie theaterMarcus also rose 7.7%, its biggest gain since September 2021.
Eric Wald, an analyst at B. Riley Securities, said the recent strength in cinema stocks reflects growing optimism about the box office outlook. He maintained Buy ratings on Cinemark, IMAX and Marcus, but raised his price targets over the next year. AMC’s investment rating is “Neutral”.
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Original title:Movie-Theater Stocks Soar After ‘Super Mario’ Draws Crowds (1)(excerpt)
