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AMC Stock Jumps On News Of Resuming Theatre Operations

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Updated: 13 August 2020

AMC (NYSE:AMC) Stock is trading over 12% higher on Thursday after the company announced it will be reopening theatres in more than 100 locations on the 20th of August…

“AMC reopens its doors to U.S. moviegoers for the first time in more than five months, AMC is celebrating its history with a throwback to the year it all started by offering “Movies in 2020 at 1920 Prices,” the company said in its press release.

The company’s share price surged over 15% after the announcement and is currently trading 12.07% higher at $5.20 per share.

The 1920’s prices mean that for one day only, on the 20th of August, tickets will be priced at just 15 cents.

The move is part of the company’s plan to reopen operations in the US. AMC stated that it plans to open approximately two-thirds of its theatre locations in the country by September the 3rd.

Adam Aron, CEO and President of AMC Theatres, commented: “We are thrilled to once again open our doors to American moviegoers who are looking for an opportunity to get out of their houses and apartments and escape into the magic of the movies. As our guests return on our first day of resumed operations on August 20, we invite them to join us in celebrating a return to the movies, and in celebrating 100 years of AMC making smiles happen with movies at 1920 prices of only 15 cents each.”