Movies - TV
Avatar 2's Opening Weekend Caused A Stock Market Drop For Movie Theaters
As the market came back from the opening weekend of "Avatar: The Way of Water," Indiewire reported that stocks in the Cinemark and AMC theater chains both plunged on December 19, 2022, with shares dropping 10.3% and 8.26%, respectively. Additionally, shares of IMAX and Disney were down 5.76% and 4.77%, respectively.
These concerning numbers aren't enough to create a stock market crash or a crash of the entire film industry. However, they're not very encouraging for industry watchers hoping — as Wall Street seemed to be — that "Avatar 2" might be the white knight movie to save theater exhibitors.
Without much competition in the ensuing weeks, the question remains if this belated “Avatar” sequel will have long, blue, Na'vi-like legs at the box office, just as the first "Avatar" did. "The Way of Water" lacks the once-in-a-lifetime buzz of "Avatar," and it may well leave some casual Disney+ subscribers waiting to stream it at a later date.