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AMC Theatres Downgraded Over "Minimal Liquidity Options" as Stock Tumbles

10.07.2020 - 08:16

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hollywoodreporter.com

hollywoodreporter.com:

With Wall Street judging a Chapter 11 bankruptcy filing for AMC Theatres increasingly likely, B. Riley FBR analyst Eric Wold on Monday recommended investors sell off stock in the exhibition giant. "We continue to believe that AMC has minimal liquidity options to make it through an extended theatrical shutdown period even with the recently reported decision to no longer pay rent on its theaters," Wold wrote in an investors note as the company, led by CEO Adam Aron, tries to navigate theater closures amid the COVID-19 crisis.

Shares in AMC Entertainment Holdings Inc. were trading in the mid-afternoon Monday down 52 cents, or 20 percent, to $2.08 on the New York Stock Exchange.