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Its total revenues increased 538.7% year-over-year to $763.20 million in the third quarter (ended September 30, 2021). Its net loss came in at $224.20 million compared to $905.80 million. However, its negative $5.40 million adjusted EBITDA was well below pre-pandemic levels. The stock has declined 30.9% in price over the past month and 34.1% over the past three months to close Friday’s trading session at $29.12.
AMC faces intense competition from online streaming service providers, such as Amazon.com, Inc.’s (NASDAQ:AMZN) Prime Video and Netflix, Inc. (NASDAQ:NFLX). Also, its shares have retreated as the meme stock frenzy has ebbed amid broader market volatility and a lower appetite for risky assets. So, its near-term prospects look bleak.
