Why Cinemark Holdings Is Jumping 11% Today
Shares of Cinemark Holdings (NYSE: CNK) jumped over 11% in morning trading a day after the company said it was pushing its movie theater reopening to July 24 to better align with new content from Hollywood. The reopening was previously slated for between July 3 and July 17.
Reopening theaters is the essential next step for the survival of Cinemark and the industry. Peer AMC Entertainment (NYSE: AMC) continues to walk the tightrope between solvency and bankruptcy, but opening movie houses with little to no content to show is self-defeating.
Image source: Getty Images.
Source Fool.com
