AMC tanks 11% after warning it could run out of cash in a matter of months - Business Insider

tumbled as much as 11% on Tuesday after the company warned investors it might exhaust its cash reserves before the year is out.

The US's largest theater chain cited delayed releases and weak demand as new threats facing the already slammed industry. AMC has resumed partial operations at 494 of its 598 US theaters as of Friday, but its most successful locations remain closed. Unless audience attendance trends higher or a new source of liquidity emerges, the company is likely to exhaust its cash supply by the end of 2020 or early 2021, AMC said in a Securities and Exchange CommissionA fund manager beating 90% of his rivals told us why he actively avoids companies with giant profit margins — and shares 5 stocks he thinks will keep winning for yearsAfter delays to releases including "No Time To Die" and "Dune," only four major titles are set to be...

The chain's July deal with Universal could yield a last-minute lifeline. The agreement allows Universal to show a new movie for just 17 days before being able to release it on demand. AMC gets a cut of the online sales. With Universal's "Croods" set to debut on Thanksgiving, an on-demand release could bring AMC much-needed cash before the new year.

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