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AMC Theatres’ Stock Jumps 7% After Pfizer Vaccine Gets Full FDA Approval
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thewrap.com
thewrap.comclicking here.) AMC’s Monday move came after the Pfizer-BioNTech vaccine was given an official stamp of approval from the FDA — becoming the first COVID-19 vaccine to get full approval from the administration.
Overall, 73% of American adults have received at least one COVID-19 vaccine shot, according to the Centers for Disease Control and Prevention.
Investors seemed to be betting that the FDA’s approval will help spur more people to return to the theaters, with Imax also enjoying a nearly 7% bump in its stock price on Monday; Cinemark fared even better, with its share price increasing 8% on the day.
Studios releasing more movies in theaters will help boost ticket sales, too, obviously, as the major cinema chains are still struggling to.
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