Why AMC Entertainment Stock Was Climbing on Tuesday
Shares of AMC Entertainment Holdings (NYSE: AMC) were rising on Tuesday despite a lack of news about the company. But it's possible investors are encouraged by a single data point suggesting the theater industry is starting to return to normal: The movie Tenet is coming to theaters this fall. As of 2:30 p.m. EDT today, AMC stock was up 9% and still climbing.
Image source: Getty Images.
As people physically distanced themselves to prevent the spread of COVID-19, certain venues were off-limits, including movie theaters. And it created a tricky problem: Movie theaters can't reopen if new movies aren't being released, and movie studios aren't interested in releasing their films if there aren't a good number of theaters reopen.
Source Fool.com
