Why AMC Entertainment Is Up 8% Today
Shares of AMC Entertainment Holdings (NYSE: AMC) were rising 7.8% in morning trading Thursday on no news specific to the theater operator, though there was progress being made on the coronavirus front.
Rising or falling numbers of COVID-19 cases will impact AMC as it will determine whether people are ready to return to movie theaters in large numbers. Right now Godzilla vs. Kong from AT&T's Warner Bros. continues to dominate at the box office, with over $80 million generated so far, which isn't too bad considering theaters are operating at less than maximum capacity.
The Centers for Disease Control and Prevention says 40% of the U.S. population have received at least one dose of a vaccine and 26% are fully vaccinated. At the same time, the number of COVID-19 cases and the number of new cases continues on its downward trend.
Source Fool.com
