AMC Shares Jumped Premarket After Moving Forward With Its Theater Acquisition Strategy

Tiger Newspress2022-04-13

AMC Entertainment Holdings, Inc.  stock is seeing an upward bounce in pre-market trading on Wednesday. Shares of AMC Jumped 1.44% in premarket trading.AMC Entertainment had moved forward with its theater acquisition strategy, adding seven new locations. 

The movie theater chain announced late Tuesday that it has agreed to buy and operate seven locations in Connecticut, upstate New York and Annapolis, Maryland. The company expects to begin operations at four of these locations on April 21, with the remaining scheduled to open in the coming weeks.

This is in addition to the seven theaters the company recently acquired in Los Angeles, San Diego, Washington D.C and Chicago.

AMC also said it is in active discussions to acquire additional locations.

"Today's announcement is exciting for AMC, our shareholders and many moviegoers in the northeastern United States. Our theatre acquisition strategy makes AMC a better and stronger company as we move forward on our glidepath to recovery," said Adam Aron, CEO of AMC.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
22