Movie theater stocks got a jolt of life late Monday after New York’s governor said chains in New York City could reopen next week with Covid-related restrictions.
It was the news some beleaguered investors were waiting to hear. AMC Entertainment Holdings (ticker: AMC) shares shot up 14.9% in late afternoon trading, and rose another 9.6% in after-hours trading.
CEO Adam Aron said in a statement that Gov. Andrew Cuomo’s announcement “is another important step towards restoring the health of the movie theatre industry and of our company.”
AMC is going to reopen its 13 locations in