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1 Jun 2022

'Top Gun: Maverick' jets to new box office record amid crashing Paramount Shares

The Index Today

With excellent reviews, an A+ Cinemascore grade and a box office record of $160.5 million four-day domestic gross and now $300 million worldwide as of yesterday, Skydance and Paramount's Top Gun: Maverick is now Tom Cruise’s highest grossing movie amid falling stocks of AMC Entertainment and Paramount.

The Joseph Kosinski-directed sequel to Cruise’s 1986 turn as Navy fighter pilot Pete “Maverick” Mitchell beat the previous record holder for the frame, 2007’s Pirates of the Caribbean: At World’s End. It also beat the past forecasts in a theatrical sector that’s still struggling to recover from Covid restrictions, shifting release schedules and consumer reluctance — especially among older demos.

Recent data shows that the shares of giant chain AMC are changing hands at about $14.75, up about 2%. The stock had surged 10% in premarket trade but fell at the open, dipping briefly into the red. Paramount Global shares are up about 0.5% at $34. They also were in the red earlier. Top Gun 2 is the studio’s fifth No. 1 opening of 2022.

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