NEW YORK (TheStreet) -- When good isn't good enough, investors run scared. That's what happened to Lions Gate (LGF) on Monday, after box office numbers for Catching Fire failed to exceed sky-high expectations. Shares plunged 10.5% to $30.23, after Friday's 3.8% rally. Trading volume was six times more than usual with 12 million shares changing hands during the trading session.
Catching Fire, Lions Gate's sequel to 2012's The Hunger Games, pulled in $161.1 million over its debut weekend, the biggest November debut in history and Lions Gate's most profitable box office open ever. Worldwide, the film garnered $307.7 million in ticket sales, according to Reuters. While the movie fell short of Iron Man 3's record-holding $174 million box office open, the film smashed Disney's (DIS) Delivery Man which had a wide domestic release over the weekend as well and took in $8.2 million.
However, Catching Fire's impressive box office haul wasn't enough to meet analysts' lofty projections. According to Rentrak data, it was anticipated the film would pull $166 million over the weekend. The sequel has exceeded the original's opening weekend takings of $152.5 million in March last year.
This isn't the end of the Vancouver-based studio's strong run. The final two films, The Hunger Games: Mockingjay - Part 1 and The Hunger Games: Mockingjay - Part 2, the material of which is derived from the third book in the series, will be released in November 2014 and 2015, respectively.
The studio has also taken on the rights to a separate dystopian three-part young-adult franchise, Divergent. The first installment in the Veronica Roth series is slated for a March 2014 release.