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AMC Stock Surges as ‘Kingdom of the Planet of the Apes’ Reigns Supreme at the Box Office

The Kingdom of the Planet of the Apes, the fourth instalment in the very successful Planet of the Apes reboot series, debuted on Friday, May 10, 2024 in North America and around the world. Rise of the Planet of the Apes generated $176 million at the domestic box office, Dawn pulled in $208 million, while War for the Planet of the Apes experienced a drop-off and generated $146 million. Dawn was also the most successful film worldwide with a $710 million gross, outpacing the first and third films which delivered $481 million and $490 million, respectively.

The fourth film in the series pulled in $56.5 million at the domestic box office over the May 10-12 weekend. Meanwhile, it has pulled in $129 million worldwide after its opening. Dawn of the Planet of the Apes, the second and most successful instalment in the reboot franchise, delivered a domestic opening of $72.6 million when it debuted in 2014.

AMC Entertainment (NYSE:AMC) will have good reason to celebrate the strong opening. Better yet, it has received a big boost from the latest “meme stock” frenzy that was kicked off from the return of a “Roaring Kitty”, a personality that drove opinion during the 2021 craze.

Shares of AMC have now surged over 80% month-over-month at the time of this writing. That said, long-term investors will want to see more out of the company as its stock was pulverized in the aftermath of the previous “meme stock” uptick.