Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Will You Go Back to the Movies For 15 Cents? AMC Hopes So

Published 08/13/2020, 10:17 AM
Updated 08/13/2020, 10:17 AM

By Christiana Sciaudone

Investing.com -- Coming soon to a theater near you… a movie!

AMC Entertainment (NYSE:AMC) rose 6.9% after saying it will open most of its locations by Sept. 3. 

In a bid to get people to risk coronavirus contamination for a non-essential activity, the company will charge 15 cents a ticket when it reopens more than 100 theaters on Aug. 20, which is the chain's 100th anniversary, according to Deadline Hollywood.

The 15-cent admissions price is the same charged in 1920. Another 300 or so locations will open subsequently, and AMC will show Disney's The New Mutants on Aug. 28 and Warner Bros.' Tenet on Sept. 3, Deadline Hollywood said.     

AMC will also bring back titles like Back to the Future and Grease as it celebrates its centenary. 

Shares are down 32% since the start of 2020. The stock has one buy rating, six holds and two sells, with an average price target of $4.43, according to analysts surveyed by Investing.com. It traded around $4.95 on Thursday.



Latest comments

the age of "cinema" is over, the time of Netflix has come ....
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.