AMC’s Multi-Year Recovery: AI Predicts a 55% Increase in Stock Price by End of 2023
The stock of AMC Entertainment (NYSE: AMC) experienced a drop after reporting its 14th consecutive quarterly loss, despite exceeding expectations.
According to CEO Adam Aron, AMC‘s projections indicate that the worldwide box office won’t return to its pre-pandemic levels until at least 2024 or 2025.
However, Aron is optimistic about the company’s earnings release, stating that with more significant movies coming in 2023, AMC’s multi-year recovery will continue to make significant progress this year.
In light of this, investors are looking at alternative ways, such as artificial intelligence (AI), to forecast the future stock prices of companies like AMC. One such projection for AMC’s end-of-year stock price comes from CoinPriceForecast’s self-learning technology, which predicts a 55% increase to $11.08 by December 2023.
AMC’s stock initially climbed to $8.41 at market open but later fell to $7.14, a 6.18% decrease from the previous session. However, AMC is up 11.91% over the past five days and 81.68% year-to-date. Despite its recent success, AMC’s stock price has been fluctuating between $4.39 – $8.53 in the last month, making it difficult to find a good entry and exit point.
AMC’s adjusted net loss for Q4 was 14 cents per share, beating the market’s expectation of a 21 cents per share loss. AMC’s actual revenue of $990.9 million was also higher than the forecasted $977.6 million.
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Wall Street analysts have given AMC a consensus “sell” rating based on its performance in the past three months, and the average price forecast for next year is $2.39, which represents a 66% downside from its current price.
AMC will be asking its shareholders on March 14th to vote on a proposal to increase the number of common shares and carry out a reverse stock split, which could potentially reduce the value of common shares. Aron encourages shareholders to vote in favor of the proposal.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
