AMC Stock Soars as Company Announces Plans to Re-open

Shares of struggling company AMC Entertainment were heading higher this week after Wall Street learned that the company is planning to re-open theaters in California this week.

Almost all its 56 California locations could be open this week including two of its flagship locations in Los Angeles which opened on Monday.

All its remaining 23 movie theaters in Los Angeles County will open back up starting on March 19.

The reopening of these locations is assuming the proper local approvals are in place.

CEO Adam Aron stated in the company’s latest financial results, “This past year has presented AMC with the most challenging market conditions in the 100-year history of the company.”

“Taking these facts together, we have reason to be optimistic about AMC’s ability to get to the other side of this pandemic,” stated Aron.

“The reopening of movie theatres in Los Angeles County and throughout California is a momentous occasion for AMC Theatres, for our guests, for our associates, for our studio partners, and for the entire theatrical exhibition industry,” said Aron.

“AMC will reopen with the highest devotion to the health and safety of our guests and associates through our AMC Safe & Clean policies and protocols, which were developed in consultation with Clorox and with current and former faculty at the prestigious Harvard University School of Public Health,” Aron added.

The company has more than 525 locations across the country.

Theaters will begin showing some of the following movies:

“Raya And The Last Dragon”
“Tom & Jerry”
“Chaos Walking”
“Boogie”
“The Father”
“The Little Things”
“Judas And The Black Messiah”
“The Croods”
“Wonder Woman 1984”
“Nomadland”

Year-to-date AMC shares are up more than 500%.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.