AMC Tumbles as Hollywood Strikes, Higher Expenses Hit Results
AMC Entertainment slumped nearly 8% on Thursday as the movie industry continued to reel from the impact of twin Hollywood strikes, driving the theater chain to post a larger-than-expected quarterly loss. The writers and actors' strikes have crippled much of the industry, leading to fewer releases following the blockbuster summer successes of "Barbie" and "Oppenheimer." The delay in the release of the "Dune" sequel likely contributed to the box-office weakness last year.