Shares of AMC Entertainment Holding Inc. AMC, -6.77% led other theater chain operator stocks down in early trade on Wednesday.
AMC shares were down as much as 25% after the company issued a profit and revenue warning Tuesday evening, that was the result of high costs amid a period of weaker-than-expected box office revenue. Cinema chain stocks have been beaten up so far this year as box office revenues have been soft and concerns of digital disruption and shrinking theatrical release windows continue to dominate headlines. Shares of Cinemark Holdings Inc. CNK, -2.82% were down more than 6% in Wednesday trade, while shares of Regal Entertainment Group RGC, -2.83% and Imax Corp. IMAX, -1.26% fell nearly 5%. Shares of AMC have lost nearly 55% in the year to date and more than 45% in the last 12 months, while the S&P 500 index SPX, -1.45% is up almost 11% in the year and 15% in the trailing 12-month period.