AMC Soars After New York Moves to Lift Restrictions on Theaters
- The company plans to reopen 12 locations in the state
- Cuomo says some cinemas can reopen at 25% capacity Friday
Photographer: Sergio Flores/Bloomberg
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Shares of AMC Entertainment Holdings Inc. and other movie-theater chains surged on Monday after New York Governor Andrew Cuomo announced that some theaters in the state would be able to reopen.
AMC jumped as much as 28% to $3.88, the biggest intraday gain in five months. It had been down 58% this year through the end of last week. Cinemark Holdings Inc., meanwhile, climbed 13% to $8.90 on Monday.