Returns as of 10/06/2020. Even the retail malls where you'll find most movie theaters are facing bankruptcies and shutdowns in an e-commerce trend that started many years before the COVID-19 crisis. Where the two markets intersect, you'll find his wheelhouse. AMC Entertainment Files To Sell Stock For Cash As Exhibition Struggles AMC Entertainment has filed to sell 15 million shares of common stock to raise … The capacity should rise to 50% near Labor day and AMC hopes to resume business as usual somewhere around Thanksgiving. Where seats aren't reserved, every other row will be blocked off. The world was already turning against the local multiplex, but the simmering disruption is turning into a microwave blast during the industry shutdown. Cumulative Growth of a $10,000 Investment in Stock Advisor, Don't Buy AMC Theatres Stock Until These 3 Things Happen @themotleyfool #stocks $AMC $CLX, the coronavirus era have accelerated the rise of digital streaming services, film studios are already exploring how they can make it happen, Here's Why AMC Entertainment and Other Movie Theater Stocks Are Plunging on Monday, AMC Entertainment Expected to Run Out of Liquidity Within 6 Months. AMC (NYSE:AMC) -- in a letter obtained by Deadline -- wrote to its landlords late last month, explaining that it will stop paying rent this month. Is AMC Entertainment the Best Stock to Buy Today? Stock Advisor launched in February of 2002. Learn more. Market data powered by FactSet and Web Financial Group. Since 1995, Rick has been writing for The Motley Fool, where he's a consumer and tech stocks specialist. Contains six flavors not found in nature.
Spoiler alert: It won't be easy, and I really don't expect AMC to stay in business much longer. He thinks Cinemark will be a beneficiary of the dirt-cheap acquisition opportunities that will arise in the post-COVID-19 rubble. This sounds reasonable enough on paper. He has been an official Fool since 2006 but a jester all his life. Turning a profit under that model turns out to be harder. Let's conquer your financial goals together...faster.
The stock is trading 59% below its 52-week highs even after bouncing 163% higher from the market bottom in March. Follow Anders on Twitter, LinkedIn, and Google+.
He is lowering his price target on the stock from $4 to $1.
Change Location It's all downhill from here. The sobering report finds Loop Capital analyst Alan Gould downgrading the stock to "sell" on Wednesday, concerned about the liquidity of the country's largest multiplex operator. The debt holders will come knocking, demanding payment for loans they never should have approved in the first place. He's been an analyst for Motley Fool Rule Breakers and a portfolio lead analyst for Motley Fool Supernova since each newsletter service's inception. Returns as of 10/06/2020. Weak product on a weak platform in a weak economy isn't going to make a strong recovery. I don't expect AMC to stay closed until every trace of the novel coronavirus has been wiped out, and investors shouldn't wait until we have both herd immunity and effective vaccines. The stepwise reopening in July comes with an improved cleaning program in partnership with Clorox (NYSE:CLX) and reduced screening crowds. Only 30% of each screen's seats will be for sale in the first phase of the reopening plan, followed by a 40% limit in the second phase. Coming up with a viable business plan for the long haul is much tougher. Therefore, no food or beverage permitted. In order to display showtimes, please select a nearby theatre. Find everything you need for your local movie theater near you.
AMC's stock plunge comes after rival Cineworld, the world's second-largest theater chain, said in a regulatory filing on Monday it plans to … And speaking of concessions -- the high-margin product line that makes business click for exhibitors -- even if consumers do spring for discounted matinee tickets, are they really going to splurge on tubs of sodas and heavily marked-up snacks? If the mighty AMC isn't paying rent, I'm not sure how smaller players including Cinemark and Cineworld's Regal will fare any better. The smaller exhibitor passed Gould's coronavirus stress test, given its lower fixed costs relative to the competition. It has furloughed 25,000 employees, reduced salaries of its general managers, and slashed payroll at its corporate office.
The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. See you at the top! However, he sees a decline of just 33% in the third quarter, recovering to a 20% year-over-year slide in the fourth quarter. Surviving the coronavirus pandemic is just a first step for AMC. AMC shares were trading down 23%, Cinemark was down 21%, IMAX IMAX, +3.96% was down 7% and cinema advertising network operator National CineMedia Inc. NCMI, +28.13% was down 8%. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life.
Domestic theaters sold fewer tickets in 2019 despite a monster slate of releases that included the final entries in the original Star Wars and Avengers franchises. Gould is keeping a "buy" rating on Cinemark, but he's still lowering his price target on the shares from $35 to $22. Collect bonus rewards from our many partners, including AMC, Stubs, Cinemark Connections, Regal Crown Club when you link accounts. Cord-cutting consumers are ready to go elsewhere and film studios are already exploring how they can make it happen. Movie times, buy movie tickets online, watch trailers and get directions to AMC Burlington Cinema 10, State/Local mandates require masks be worn at all times. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The multiplex won't die overnight. Investors will lose every last penny if the company files for bankruptcy and share prices go to zero. Will people still be going out to the movies in healthy numbers later this year? Are folks going to pay up for premium-priced IMAX screenings? Select a Theatre. That was the easy bit. Will the Last Multiplex to Leave Please Shut Off the Projector Light?
Market data powered by FactSet and Web Financial Group. The stay-at-home orders of the coronavirus era have accelerated the rise of digital streaming services, and it wouldn't surprise me at all if many avid moviegoers choose to stay home when the theaters are open for business again.
AMC, Regal parent Cineworld (LSE:CINE) (OTC:CNWGY), Cinemark, and experience enhancer IMAX (NYSE:IMAX) are in trouble. The sobering report finds Loop Capital analyst Alan Gould downgrading the stock to "sell" on Wednesday, concerned about the liquidity of the country's largest multiplex operator. Movie theater operator AMC Entertainment Holdings (NYSE:AMC) has been riding a spectacular roller coaster in 2020. If you're itching to pick up AMC shares at these low prices, I would suggest that you take a breather and wait until the three events listed below have taken place.
The prognosis isn't getting any better for the movie theater industry.
Refunds + Exchanges.
AMC argues that its theaters have been closed since mid-March. If there is a way to make it work, I can't wait for AMC to find it and thrive. In short, this year was going to be a relative letdown under optimal conditions.
Let's see how it works out in practice before jumping to conclusions, but AMC may have found a way to satisfy my first requirement.
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