AMC Entertainment Shares Rise Towards 4 Week Winning Streak, Says Nearly 90% of US Theaters Were Open


AMC Entertainment Inc.AMC shares,
+ 6.21%
it skyrocketed 6.5% in Friday morning trading, heading for a 36.0% weekly gain, and is now up 95.9% amid a four-week winning streak. The theater operator disclosed in its annual report filed with the Securities and Exchange Commission that as of March 5, 527, or 89.5% of its cinemas in the US, and 78, or 21.9% of its international cinemas leased and associated, they were operating with seats. The company said that if assistance levels increase as currently expected, as restrictions related to the COVID-19 pandemic ease, it will have sufficient liquidity to meet the minimum requirements of the debt agreement to finance operations and meet obligations up to at least March 2022. AMC said that In 2021, rental costs are scheduled to increase “significantly” due to rental obligations that were deferred to this year and futures totaling $ 450 million as of December 31. The company said it will continue to explore ways to generate additional liquidity and negotiate with its owners to reduce or defer a substantial portion of its rental obligations. AMC shares, which have lost 45.0% since closing at a more than 2-year high of $ 19.90 on January 27, have soared 276.3% in the last 12 months, while the S&P 500 SPX,
-0.18%
it has risen 58.5%.

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