Don’t be surprised next Friday if the office looks even more empty than usual—your co-workers may be ditching work for one of the most bizarre double feature events in recent memory.
“Barbenheimer” is summer’s new buzzword—a mash-up of two of the season’s most hotly anticipated films: Barbie from Warner Bros. (ticker: WBD) and Oppenheimer, from
Comcast
‘s (CMCSA) Universal Pictures. Both are set for wide release July 21.
One is a fantasy romp featuring the popular
Mattel
(MAT) doll franchise, the other is a dark drama about the scientist behind World War II’s Manhattan Project. (Hopefully, it’s easy to discern which is which.) Despite the wildly disparate themes, moviegoers are eager to catch both on opening day, with some even planning costumes, The Wall Street Journal reports.
Earlier this week, according to Bloomberg, 19% of those who bought tickets for Christopher Nolan’s Oppenheimer also grabbed tickets for Greta Gerwig’s Barbie. That number could swell as “Barbenheimer” talk continues on social media.
But even if you are stuck in the office—or don’t care to spend a summer Friday in the theater—there are still ways to join the fun. Barron’s looked at ticket prices in New York and found seeing both on premier day would cost $38.50—and that is before the refreshments that would surely be needed. Total runtime for both films is about five hours.
Another way to use that cash is to look at movie chain
Cinemark Holdings
(CNK), whose shares trade around $15 apiece. Analysts at B. Riley upgraded the stock to a Buy on Wednesday, adding it could hit $23. The team has taken a more optimistic view on box office sales through 2024 as the industry continues to recover from the pandemic.
With its 77% gain this year, Cinemark has fared better than rivals such as
AMC Entertainment
(AMC) and IMAX (IMAX), which have gained 7.5% and 20%, respectively. But Cinemark’s ride has been more volatile and a recent pullback in shares could provide an attractive entry point, according to Eric Wold, analyst at B. Riley Securities.
Hasbro
(HAS) is another stock worth a look. The toy maker, like Mattel, is no stranger to using its intellectual property to drive movie sales—just consider the Transformers franchise and Dungeons & Dragons. But while Mattel’s stock has gained 12% in the last month in the lead-up to Barbie, Hasbro, without a major summer release beyond June’s Transformers movie, has advanced only 4%. Hasbro shares also trade at 13.7 times forward earnings, below its historic average of 17.9 times and well-below Mattel, which trades at 16.6 times.
For the box office, Barbie looks like a winner as it is projected to bring in $85 million in its opening weekend, thanks to its wider appeal, whereas Oppenheimer is projected to rake in at least $45 million, according to Box Office Pro.
But for investors, there are other ways to win without going to the movies.
Write to Carleton English at [email protected]
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