Cinemark to Start Reopening Theaters This Friday, All to Be Open By Mid-July
After being closed for months in response to the COVID-19 pandemic, Cinemark (NYSE: CNK) announced yesterday that it will reopen theaters in Texas tomorrow. The Dallas reopening is the first phase of a planned four-phase process, which will see all of Cinemark's 555 locations open for moviegoers again by July 17 if the plan goes according to schedule.
All of America's movie theater companies experienced brutal revenue losses as a result of the novel coronavirus, causing their stock value to crater. Cinemark and its sister enterprises haven't yet seen a rebound, with shares still well below pre-pandemic levels.
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Source Fool.com
