The massive box office opening for James Cameron’s Avatar: The Way of Water wasn’t enough from Disney’s stock taking a tumble after it failed to live up to projections.
According to The Wrap, the sequel to the 2009 blockbuster was projected to earn around $525 million in its opening weekend. However, the film only managed to earn around $441 million in the opening weekend at the global box office.
The near $100 million disparity caused the stock of Disney to take a slight dip. At the time of writing of writing, the stock price of the media conglomerate is at $86.67 compared to the Friday high of $90.04.
Despite not reaching the projections, the film has continued to chug on at the box office, as it recently crossed the $600 million mark at the global box office.
Avatar: The Way of Water’s missed its projections mark due to its underperformance in regions like North America and China. The report suggests that the film had a projection of $150-170 million in the North American box office. However, it only earned around $134 million.
Similarly, in China, James Cameron’s film usually makes bank, with films like Titanic and the original Avatar performing successfully. However, due to the recent boom in COVID-19 cases in the region, Avatar: The Way of Water only earned around $57 million in its opening weekend, even though it was projected to earn around $120 million.
In the end, it remains to be seen how the film performs, as it enters its second week at the global box office.
