2 Reasons to Sell AMC Entertainment
The coronavirus pandemic has changed the entertainment industry forever, and some companies may not recover. Shares of movie theater operator AMC Entertainment (NYSE: AMC) have fallen 52% this year, and further declines are likely as it struggles with low attendance and massive cash burn. Let's explore the reasons why investors should sell AMC stock before it's too late.
As of the end of September, AMC had reopened approximately 78% of its U.S. locations, despite ongoing restrictions in New York and California. But visitor traffic remains subdued, hovering between 10% and 20% of last year's levels, according to CFO Sean Goodman.
Source Fool.com
