Shares of AMC Entertainment (NYSE: AMC) jumped 15.3% on Monday after Governor Andrew Cuomo said movie theaters could reopen in New York City on March 5.
New York's reopening plan comes with some stipulations. Theaters can operate at 25% capacity, while guests will be limited to a maximum of 50 people per screen. "Assigned seating, social distancing, and other health precautions will be in place," Cuomo said.
Still, investors cheered the news, and rightfully so. The ability to once again operate its venues in a major market is certainly a positive for the struggling movie theater chain. AMC moved quickly to seize the opportunity.
Source Fool.com