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2021-05-07
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AMC Staring At 'Increasingly Favorable Environment,' CEO Says As 7 Million People Walking Into Its Theaters In Q1
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(NYSE: AMC) CEO Adam Aron has expressed optimism about the movie theatre chain’s prospects, saying it is looking at an “increasingly favorable environment” for movie-going in the coming months.","content":"<html><body><p><strong>AMC Entertainment Holdings Inc.</strong> (NYSE:AMC) CEO Adam Aron has expressed optimism about the movie theatre chain’s prospects, saying it is looking at an “increasingly favorable environment” for movie-going in the coming months.</p>\n<p><strong>What Happened: </strong>Aron attributed the favorable environment partly to the U.S. vaccination program and the arrival of long-awaited new movie title releases to theatres.</p>\n<p>The CEO added that AMC, which reported its first-quarter results on Thursday, was able to attract about 7 million U.S. and international moviegoers to its theatres in the quarter.</p>\n<p><em>See Also: How to Buy AMC (AMC) Stock</em></p>\n<p>AMC said that as of the Q1-end, it was operating at 585 domestic theatres, representing about 99% of domestic theatres, with limited seating capacities of between 15% and 60%.</p>\n<p>Capacity restrictions for movie theatres in New York City, a huge market for movie theatres, will be removed effective May 16, the company noted.</p>\n<p>For the first quarter, AMC reported a narrower net loss, while revenue fell 84% year-over-year. The results missed analysts’ estimates.</p>\n<p><strong>Why It Matters</strong><span>: AMC managed to avoid bankruptcy amid the pandemic after the closure of theatres forced the company into a </span>cash crunch<span>. The company reopened 98% of its locations in March.</span></p>\n<p>Despite its weak finances, AMC shares have been popular among retail investors. Traders belonging to the Reddit Investor forum r/WallStreetBets bid up AMC and other heavily shorted stocks such as <strong>GameStop Corp.</strong> (NYSE:GME) to create a short squeeze earlier this year. AMC Entertainment’s stock has returned year-to-date gains of 324.5%.</p>\n<p><strong>Price Action:</strong> AMC shares closed almost 1.9% lower in Thursday’s regular trading session at $9.00, but rose 2.6% in the after-hours session to $9.23.</p>\n<p><em>Read Next: </em><em>AMC 'Under Attack' From Short Sellers Again, CEO Says</em></p>\n<p><em>Photo by Dave Dugdale on Flickr</em></p>\n</body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Staring At 'Increasingly Favorable Environment,' CEO Says As 7 Million People Walking Into Its Theaters In Q1</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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The results missed analysts’ estimates.</p>\n<p><strong>Why It Matters</strong><span>: AMC managed to avoid bankruptcy amid the pandemic after the closure of theatres forced the company into a </span>cash crunch<span>. The company reopened 98% of its locations in March.</span></p>\n<p>Despite its weak finances, AMC shares have been popular among retail investors. Traders belonging to the Reddit Investor forum r/WallStreetBets bid up AMC and other heavily shorted stocks such as <strong>GameStop Corp.</strong> (NYSE:GME) to create a short squeeze earlier this year. AMC Entertainment’s stock has returned year-to-date gains of 324.5%.</p>\n<p><strong>Price Action:</strong> AMC shares closed almost 1.9% lower in Thursday’s regular trading session at $9.00, but rose 2.6% in the after-hours session to $9.23.</p>\n<p><em>Read Next: </em><em>AMC 'Under Attack' From Short Sellers Again, CEO Says</em></p>\n<p><em>Photo by Dave Dugdale on Flickr</em></p>\n</body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","GME":"游戏驿站"},"source_url":"https://www.benzinga.com/news/earnings/21/05/21006603/amc-staring-at-increasingly-favorable-environment-ceo-says-as-7-million-people-walking-into-its-the","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133574269","content_text":"AMC Entertainment Holdings Inc. (NYSE:AMC) CEO Adam Aron has expressed optimism about the movie theatre chain’s prospects, saying it is looking at an “increasingly favorable environment” for movie-going in the coming months.\nWhat Happened: Aron attributed the favorable environment partly to the U.S. vaccination program and the arrival of long-awaited new movie title releases to theatres.\nThe CEO added that AMC, which reported its first-quarter results on Thursday, was able to attract about 7 million U.S. and international moviegoers to its theatres in the quarter.\nSee Also: How to Buy AMC (AMC) Stock\nAMC said that as of the Q1-end, it was operating at 585 domestic theatres, representing about 99% of domestic theatres, with limited seating capacities of between 15% and 60%.\nCapacity restrictions for movie theatres in New York City, a huge market for movie theatres, will be removed effective May 16, the company noted.\nFor the first quarter, AMC reported a narrower net loss, while revenue fell 84% year-over-year. The results missed analysts’ estimates.\nWhy It Matters: AMC managed to avoid bankruptcy amid the pandemic after the closure of theatres forced the company into a cash crunch. The company reopened 98% of its locations in March.\nDespite its weak finances, AMC shares have been popular among retail investors. Traders belonging to the Reddit Investor forum r/WallStreetBets bid up AMC and other heavily shorted stocks such as GameStop Corp. (NYSE:GME) to create a short squeeze earlier this year. AMC Entertainment’s stock has returned year-to-date gains of 324.5%.\nPrice Action: AMC shares closed almost 1.9% lower in Thursday’s regular trading session at $9.00, but rose 2.6% in the after-hours session to $9.23.\nRead Next: AMC 'Under Attack' From Short Sellers Again, CEO Says\nPhoto by Dave Dugdale on Flickr","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/104226409"}
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