AMC Entertainment stock has been climbing this week, and the reason is pretty clear.
The Super Mario Galaxy Movie just delivered one of the biggest opening weekends in recent memory, and AMC captured more of it than any other theater chain on earth.
The film opened Wednesday, April 1 and ran through the Easter holiday weekend.
By Sunday, it had earned $190.1 million domestically over its first five days and $182.4 million from 80 overseas markets, for a global total of $372.5 million.
That makes it the biggest Hollywood opening of 2026 by a significant margin and the second-largest Illumination opening in history, behind only the original Super Mario Bros. Movie from 2023, which opened to $204 million domestically and $375 million globally in the same Easter window.
AMC captured approximately 22 percent of the weekend’s domestic box office for the sequel, the largest share of any exhibitor.
Cinemark followed with 16.7 percent, Regal at 16 percent. The total domestic box office for the weekend landed at an estimated $195.7 million, the strongest early-April weekend in recent years.
What Has AMC Said About The Weekend?
AMC CEO Adam Aron issued a statement Monday morning that covered both the box office performance and what the company sees coming. “We have long said that a steady flow of compelling, well-marketed films drives sustained moviegoing,” Aron said.
“The Super Mario Galaxy Movie delivered on all accounts, with fans, families, and younger moviegoers showing up in huge numbers. It’s the highest-grossing opening weekend of 2026 so far.”
Aron continued,
“It’s exactly the kind of broad, crowd-pleasing release that brings people into theatres. Just as importantly, this success is happening alongside other films that also have been bringing in moviegoers, including Project Hail Mary, The Drama, Scream 7 and Hoppers among many others. The combination of a major tentpole like The Super Mario Galaxy Movie supported by a diverse slate helps drive consistent, sustained moviegoing.”
AMC also announced it delivered the highest combined global admissions and food and beverage revenue for a five-day Easter weekend in the company’s 106-year history.
Over 6 million guests attended AMC locations in the United States or ODEON Cinemas internationally from Wednesday April 1 through Sunday April 5.
That figure also represents AMC’s highest global attendance for a Wednesday through Sunday period in 2026.
The Merchandise Story Is Almost As Big As The Movie
AMC ordered more than 500,000 themed merchandise units for The Super Mario Galaxy Movie, the largest merchandise order the company had placed for any film since Taylor Swift: The Eras Tour in October 2023.
The lineup included the Yoshi popcorn bucket, a Luma LED popcorn bucket, and the Mini Bowser Cauldron, a 105ml collectible that holds the Guinness World Record for the world’s smallest commercially available popcorn container, a record officially certified at an AMC at Universal CityWalk Hollywood in March.
By opening Friday night, AMC had already sold roughly two-thirds of its total merchandise inventory.
By Monday morning, the online shop showed virtually everything sold out. The Super Mario Galaxy Movie merchandise program now ranks as AMC’s second-highest grossing collectible program of all time, behind only the Taylor Swift concert film, a comparison that says something given how culturally dominant that moment was.
Why This Matters For AMC’s Finances
AMC is still carrying approximately $4.1 billion in total debt, a legacy of the pandemic years when the company came close to collapse and survived largely through a combination of meme stock retail investor enthusiasm and aggressive debt restructuring.
The company has not consistently generated profit in years. Its pretax profit margin has been running at approximately negative 17.5 percent.
But the trajectory in 2026 has been notably different from recent years. AMC’s stock rose 5.1 percent on opening day of Super Mario Galaxy and another 8.72 percent on April 2 as box office numbers rolled in.
Analysts who cover the stock are projecting EBITDA growth of approximately 53 percent in 2026, driven by the film slate. Margins are expected to improve from around 8 percent in 2025 to approximately 11 percent in 2026 and 12 percent in 2027.
Net leverage, currently deeply elevated, is projected to trend toward approximately 7 times EBITDA by year-end 2026, still high by conventional standards, but meaningfully improved.
AMC also recently secured a $425 million credit facility through its Odeon subsidiary with Deutsche Bank, aimed at lowering interest costs and extending loan maturities, a structural improvement to the balance sheet that gives the company more runway regardless of how individual weekends perform.
The broader 2026 film calendar ahead of AMC is meaningful. Michael — the Michael Jackson biopic, opens April 24 and is already projecting a $55 million-plus domestic opening according to Deadline.
The Devil Wears Prada 2 opens May 1. Mortal Kombat II, Star Wars: The Mandalorian and Grogu, and Avengers: Doomsday are all on the summer calendar.
Each one represents another potential merchandise program, another potential attendance surge, another data point for the thesis that 2026 is the year theatrical exhibition proves its durability after years of pandemic recovery uncertainty.
Where Is The AMC Stock Now?
AMC stock currently trades around $1.12 per share. The analyst consensus is Hold, with a median price target of approximately $1.50 and a range from $1.10 to $3.00.
The most bullish analyst, Eric Handler at Roth MKM, projects 167.9 percent upside. The most conservative, Jason Bazinet at Citigroup, projects a slight decline.
The stock remains speculative, the debt load remains significant, and past meme stock volatility should be a reference point for anyone paying attention.
What is not speculative is what happened at the box office last weekend. Six million people went to an AMC or ODEON theater in five days.
They bought Yoshi popcorn buckets until they sold out. They made it the best Easter weekend in the company’s history. The movie delivered.
The merchandise delivered. The stock reacted. What happens next depends on whether the rest of that 2026 film calendar performs the way the opening weekend suggested it might.
