AMC Entertainment Stock Pops On Global Opening Hopes

Entertainment stock jumped over 15% at open in a down market Wednesday at open after execs outlined global opening plans at a conference call late yesterday afternoon. Share had popped by over 17% in premarket trade.

Wall Street analysts, however, remained cautious, with Eric Wold of B Riley FBR focusing on how receptive consumers will be to returning to theaters, how robust the film slate remains, and the level of impact from attendance restrictions. He’s staying neutral on the stock but raised his price target from $4 to $5 a share given its recent runup.

He did note that, as per executive comments on the call, last year AMC operated at 17% capacity utilization across its circuit — indicating only a minority of showtimes would be impacted by even 25% attendance caps due to social distancing guidance.

I will certainly RiskItForTenet

World Health Organization has taken the unusual step of urging Pakistan to return to COVID19 lockdown, suggesting the country implement coronavirus restrictions in a cycle of two weeks on, two weeks off...

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AMC Boss Calls Universal Relations “Warm” After Spat, But Chain Has Yet To Book Studio’s MoviesBuried in AMC’s 1Q 2020 earnings release on page 3 today was the statement, “While we are in active dialogue with Universal, no movies made by Universal Studios are currently on our docket” I will RiskItForTenet How about at Universal Citywalk? CHINA owns them as they do many of the Hollywood Studios. Great work selling out our once beloved Hollywood to a communist country responsible for the virus that shut down our country and lost Hollywood billions. Hollywood will never recover.
Source: DEADLINE - 🏆 109. / 63 Read more »

Movie Theater Giant AMC Eyes Reopening After Huge Coronavirus BlowAMC Entertainment Holdings, the world’s largest movie-theater chain, registered a $2.2 billion net loss in the first quarter, underscoring the devastating economic blow the pandemic has had on the exhibition industry. They were closed . This is no surprise Everybody needs to do their homework on AMC Theaters they are owned by the CCP They really should have planned ahead for this. Had a savings account or a second job or what have you.
Source: WSJ - 🏆 98. / 63 Read more »