Shares of AMC Entertainment Holdings Inc. have hit a series of record lows recently. AMC CEO Adam Aron says that he will “have much to say” about “what is going on” when the company reports its fourth-quarter results on Feb. 28.
“AMC will announce q4 and full year 2023 earnings Feb 28 at 5:00 pm EST,” he wrote on X, formerly known as Twitter, late Thursday. “I realize many of you have wanted my take as to what is going on, but the best time to do so is on this year ending earnings call. Listen to the webcast. I’ll have much to say.”
Related: AMC’s stock slides again as original meme stock hits more all-time lows
Shares of the movie theater chain hit a record closing low of $3.67 on Feb. 5, reflecting the demise of the company’s meme-stock status. The stock has since registered gains and ended Thursday’s session at $4.89. However, this is a far cry from the heady days of the meme-stock frenzy, when the company’s shares hit an all-time closing high of $339.05 on June 2, 2021, according to Dow Jones Market Data.
AMC
AMC,
shares have fallen 89.4% in the last 52 weeks, compared with the S&P 500 index’s
SPX
gain of 23%.
Related: AMC Theatres shares slip below $4 as original meme stock hits all-time low
Last month, Aron described the decline in the company’s share price as “so frustrating.” Aron said that “almost all I think about is rebuilding AMC,” in a post on X.
In another tweet last month, Aron described the recent slide in the company’s shares as “painful” and pointed to the lingering impact of the COVID-19 pandemic on the movie-theater industry.
Related: Cinemark’s stock slides 1.8% after company posts wider-than-expected Q4 loss
Shares of AMC rival Cinemark Holdings Inc.
CNK,
fell 1.8% in premarket trades Friday after the company reported a wider-than-expected fourth-quarter loss. Cinemark shares have risen 40.1% in the last 52 weeks.
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