It’s not just the iconic superhero Super Mario jumping around in The Super Mario Bros Movie released over the Easter long weekend, but stocks related to the blockbuster have also jumped higher.
The adventure-comedy film took home $377 million worldwide on its opening weekend, including $204.6 million in US cinemas, marking the biggest opening of the year so far.
Shares of Nintendo, which produces the Super Mario franchise, closed up 2.7% at US$10.27 on Monday on the success of the film.
Cinema chains were also boosted by the film’s release, with AMC recording its busiest week of 2023 and its third busiest week since December 2019. From Friday to Sunday, AMC said more than 3.6 million moviegoers visited an AMC in the US.
“The success of The Super Mario Bros Movie is yet another shining example of the desire by US moviegoers to come to the movie theatre to be entertained,” commented AMC CEO Adam Aron.
AMC shares had added 3.7% at US$5.24 during pre-marking trading on Tuesday, after closing up 6.9% on Monday.
At the close on Monday, IMAX had added 5.3%, Cinemark Holdings (NYSE:CNK) 6.6% and Canadian theatre chain Cineplex (TSX:CGX) 5.1%.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie