After Luc Besson’s Valerian and the City of a Thousand Planets debuted in theaters over the weekend with a less-than-stellar opening, EuropaCorp’s stock value has dropped, The Hollywood Reporter shares.
At the close of trading Monday, the Paris-based company’s stock had dropped 8.31 percent, falling to €3.50 ($4.07) per share. As a result, EuropaCorp has lost €15 million in value since Friday’s closing.
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The film is the most expensive French film ever made and is believed to be the most expensive independent movie ever, with a budget of $180 million. Valerian earned $17 million from 3,553 screens, landing in fifth place at the box office.
Analysts had boosted the stock in recent weeks and are still considering the movie a “buy,” as it will open in France and Europe on July 26 and still does not have a release date in China.
While Valerian was largely financed by presales in 120 countries, its success is still important for EuropaCorp’s long-term future.
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Along with a poor box office showing, the film, which stars Cara Delevingne and Dane DeHaan, has also been plagued by scathing reviews.
The New Yorker called the movie a “joyless, effortful slog,” and The Los Angeles Times noted, “When you enter the theater, you can pick up your 3-D glasses with one hand and drop off your brain with the other.”
Photo Credit: Twitter / @Variety
