AMC Stock Is Rising Again. Bankruptcy Is 'Inconceivable,' Says CEO. -- Barrons.com

Dow Jones04-17

Emily Dattilo

Shares of AMC Entertainment were rising for the second day in a row, though a reason for the rally is unclear.

On Wednesday, AMC stock was up 6.4% to $2.89, following a 10% jump on Tuesday. This marks the best two day stretch in more than six months, according to Dow Jones Market Data. By contrast, the S&P 500 index is down 0.22% in Wednesday trading.

On April 9, CEO Adam Aron offered some insight into the state of the company.

"Personally, I think it's inconceivable that AMC would have to restructure like Regal Cinemas did and file for Chapter 11," he told The Hollywood Reporter. "One of the things I'm very proud of is that going into the pandemic, AMC was in very strong position."

The stock's recent gains, however, have not been enough to yank the movie theater chain out of the red, with shares down 53% this year as it continues grappling with a pile of debt and the aftermath of the actor and writer strikes.

Last month, AMC said it would sell up to $250 million worth of stock through an at-the-market offering to boost liquidity following a "low first-quarter box office."

Write to Emily Dattilo at emily.dattilo@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

April 17, 2024 11:01 ET (15:01 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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