How to buy AMC Entertainment stock after AMC reports inline Q1 results
- AMC stock was stable Thursday afternoon after reporting first quarter results.
- This marks a contrast to when AMC stock skyrocketed in unison with GameStop stock in early 2021.
- Here is a guide on how to buy AMC stock.
AMC Entertainment Holdings Inc (NYSE: AMC) ranked just behind GameStop as the second most popular “meme stocks” in early 2021. At its peak, AMC stock traded at $20.36 but has since fallen below the $10 per share level.
Despite losing 50% in value from its peak, AMC Entertainment stock is still up more than 350% since the start of 2021. On Thursday, AMC stock was in focus as it reported first quarter results after closing bell. Surprisingly, AMC stock was trading flat after the earnings results — an unusual outcome from one of the most popular Reddit Wall Street Bets stocks.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
In brief, AMC said it lost $1.42 per share in its first quarter on revenue of $148.3 million. This compares unfavorably with expectations from the Street of a loss of $1.28 per share and revenue of $152 million.
If you need a helping hand in understanding how to buy shares of AMC after the quarterly update, this guide is for you.
How & where to buy AMC stock right now
Buying AMC Entertainment stock after Thursday’s earnings report requires opening a stock broker account. Once complete, you simply type in the ticker AMC and click the buy button and you are a new shareholder of AMC stock.
The stock broker industry has exploded in recent years with innovative companies figuring out a way to offer cheap or even free trades.
Our team of financial experts determined these two stock brokers are the best place to buy AMC Entertainment stock.
Founded in 2006, eToro evolved over the years to become a true pioneer in offering zero-trade commissions. The company is among the most reputable stock brokers in the industry and was among the world’s most valuable private companies before reaching a deal to list on the US stock exchange.
Buying shares of AMC on eToro is completely safe and easy. Get started by clicking the link below:
Founded in 2008, Plus500 operates as a Contract For Difference (CFD) broker. The difference between Plus500 and other stock brokers is subtle: instead of owning the underlying stock outright, the investor enters into a trade that changes in value based on the direction of the underlying stock, in this case AMC stock.
Click the link below to get started with Plus500 today:
What is AMC stock?
AMC is the world’s largest movie theater chain with a heavy presence in the United States and Europe. AMC Entertainment stock was hard hit during the COVID-19 pandemic as the company had no choice but to shut its operations.
But even prior to the pandemic, AMC stock was not a top performer. The introduction of multiple video streaming services means people no longer had to leave their homes for entertainment.
But AMC stock showed signs of life in early 2021 as the health situation worldwide started to improve. AMC Entertainment stock also benefited from a strong presence on Reddit’s WallStreetBets. AMC CEO Adam Aron personally thanked the “apes” of the Reddit community for bidding the stock higher and helping AMC stock avoid going to zero due to a bankruptcy filing.
Will AMC stock rise in value?
There is no guarantee that AMC stock will rise in value but the argument can be made that the company faces the brightest outlook today compared to previous years. As people continue to become more comfortable in going out to seek entertainment, movie theaters are likely to be a main beneficiary.
AMC Entertainment said its earnings report that around 99% of its US theaters were operating at limited capacity while the international business lagged at just 27%. As theaters worldwide continue to reopen, AMC faces the prospect of higher revenue.
The slate of film releases throughout 2021 should help lift AMC stock. Some of the films include Emma Stone starring in ‘Cruella,’ the ninth installment of the iconic ‘Fast & Furious’ saga, and Daniel Craig reprising his role as James Bond.