Back to the Movies 🎬

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Back to the Movies

AMC theaters announced they will be reopening more than 100 theaters for the first time since the beginning of the COVID-19 pandemic. The movie theater chain will open on August 20 to celebrate the company’s hundredth anniversary, and it will charge a 1920 price of just 15 cents. 

The move is both financially and symbolically significant. The company’s stock rose nearly 15% yesterday following the news of the centennial celebration and subsequent opening plan. AMC expects to open about two thirds of its more than 600 theaters by September 3. The other theaters will have to wait until state and local officials give approval. 

The decision to open theaters also shows changing attitudes toward the pandemic. U.S. case counts have shown little improvement over the past few weeks and week over week deaths have seemed to hit a plateau. This decision could be a sign that despite the pandemic, businesses see the costs of remaining closed greater than the benefits. 

It will be interesting to watch how the reopening goes for AMC. Just because theaters are open does not mean people will be comfortable going to them. The success of the reopening will be a sign to investors of how the service sector return will go. 

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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