AMC, big movie chains are more than meme stocks to property bond investors

“Nowhere special. I always wanted to go there,” said Gene Wilder’s character in Mel Brooks’ 1979 parody Western “Blazing Saddles,” a film NPR credited with setting “the gold standard” for the interracial buddy comedy “with its over-the-top jabs at racism and Hollywood.”

“Uncertainty around the space, that’s been accelerated with COVID,” Goodson told MarketWatch. “It forces us to be more cautious.” “At AMC, we were within months or weeks of running out of cash five different times between April of 2020 and January of 2021,” said chief executive Adam Aron on the company’s May 6 first-quarter earnings call, while stressing that AMC’s outlook has “radically improved” since, including as more theaters have reopened during the pandemic.

iframe.twitter-tweet { width: 100% !important; } Aron has cultivated a splashy following on social media with the meme-stock crowd, but as the former chief executive of Starwood Hotels & Resorts also has deep experience in real estate and commercial property finance. For bondholders, that also means movie theaters, while large tenants, often only serve as part of the tenant mix at most properties, including in the $34 billion of mortgage debt tied to AMC and similar chains, which could be a saving grace.

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