AMC down after forecasting Q2 loss on fewer movies
** AMC Entertainment's AMC.N shares down 6.2% at $4.77 on Weds after co forecasted Q2 loss, citing delayed movie releases due to last year's Hollywood strikes
** AMC shares hit about 1-month low amid overall market weakness .N
** Co expects $32.8 mln net loss, or 10 cents/sh, for Jun qtr, vs $8.6 mln profit, or 6 cents/sh a yr ago
** It anticipates rev in qtr to decrease ~24% yr/yr to $1.03 bln, inline with LSEG estimate
** "AMC enjoyed a significant increase in our daily revenues in June of 2024 as compared to those of April and May... so far, the impressive box office performance has continued into July" - CEO Adam Aron
** On Mon, AMC shares closed up 5.4% at $5.28 after co reached new restructuring deal with creditors to extend maturity of up to $2.45 bln of debt
** With move on the session, AMC shares down ~22% YTD
** Stock's 2024 high is $11.88 (May) and low is $2.38 (Apr)
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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