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Investing.com — Coming soon to a theater near you… a movie!
AMC Entertainment (NYSE:AMC) rose 6.9% after saying it will open most of its locations by Sept. 3.
In a bid to get people to risk coronavirus contamination for a non-essential activity, the company will charge 15 cents a ticket when it reopens more than 100 theaters on Aug. 20, which is the chain’s 100th anniversary, according to Deadline Hollywood.
The 15-cent admissions price is the same charged in 1920. Another 300 or so locations will open subsequently, and AMC will show Disney’s The New Mutants on Aug. 28 and Warner Bros.’ Tenet on Sept. 3, Deadline Hollywood said.
AMC will also bring back titles like Back to the Future and Grease as it celebrates its centenary.
Shares are down 32% since the start of 2020. The stock has one buy rating, six holds and two sells, with an average price target of $4.43, according to analysts surveyed by Investing.com. It traded around $4.95 on Thursday.
