Powell says the labor market has to cool more. AMC recently advertised for 2 positions, a SEC and Social Media liaison & now a 3rd, a portfolio coordinator, Asset Management.
Powell also says tightening is hindered by consumer flush bank accounts and savings. Movie box office revenues are higher on average this year than pre-pandemic and in the last earnings Call we were told AMC customer's spent an average of 40% more than pre-pandemic years.
AMC has also managed to reduce debt by almost 2 Billion dollars in 2 years. Truly remarkable considering it is still feeling the pandemic restrictions from the delay of movie releases.
I would have thought this should reflect favorably in the stock. It is clear it is fairing much better than most and will continue to do so in this technical recession that Powell denied exists, or if they will be one or how bad it may be'.$AMC Entertainment(AMC)$
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