Yahoo Finance Live checks out shares of the AMC theater chain after Amazon's "Air" and the "Super Mario Bros. Movie" made their box office debuts over the long Easter weekend.
JOSH SCHAFER: I've got another one for us, guys. AMC, shares rising today after the movie theater chain's best weekend of 2023. AMC says it welcomed more than 3.6 million moviegoers from Saturday to Sunday this past weekend. Revenues on Saturday reaching their highest single-day mark since theaters reopened after the COVID-19 pandemic.
Now, two big names led those sales-- "Super Mario Bros," the movie, and "Air," the story of Nike signing Michael Jordan. "Super Mario Bros" totaling $146 million in domestic box office for its opening weekend. That's the highest amount yet this year. Seana, the biggest takeaway for me is, one, I didn't realize how excited people were for Super Mario.
SEANA SMITH: Me neither.
JOSH SCHAFER: I thought the movie would be a hit to some extent. I didn't think it would be this big of a hit. And number two, people are going back to the movies for something to do on a holiday weekend, right? People went to just go to the movies because that's what families do.
SEANA SMITH: As you did.
JOSH SCHAFER: I did. I went to go see "Air." I would have gone if it was on any weekend. I was very interested in the movie.
SEANA SMITH: Yeah, it is interesting. I mean, obviously, this is a massive weekend here for the box office. But if you take a look at the year to date levels, we're still about 20% below where we were in 2019. So I think the overall takeaway, at least just from this weekend, is, yes, this is huge. Yes, this is a step in the right direction in order to really get the movie business possibly back to where it was pre-pandemic, although we still have got quite a ways to go. I don't know. I'm not going to be seeing "Mario Brothers."
JOSH SCHAFER: I'd see "Mario" at home.
JARED BLIKRE: I'd see "Air" first.
SEANA SMITH: "Air" first, definitely. I would love to see that in theaters.