Here is why i am investing 25k ๐ฐin $AMC ?
Aron's appearance on CNBC's Closing Bell comes the same day that his company's stock fell to a 52-week intraday low of $1.91 per share and closed at a record low of $1.98 per share.
AMC has been crippled by covid 19 Pandemi and its shares reflect investors' lack of confidence in the movie theater industry's immediate recovery. Shares of the company fell more than 70% in 2020.
Movie theaters were forced to shutter in mid-March and spent more than six months last year closed to the public. AMC is operating around 400 of its nearly 600 theaters with limited seating capacity and shorter hours. Theaters in New York City and parts of California remain closed.
The company is in the process of trying to renegotiate its rent payments with landlords and is seeking reductions, abatements and deferrals. Should the company not be able to secure additional sources of liquidity, it reiterated, it may have to enter bankruptcy proceedings .
Comments
Post a Comment