Why AMC Entertainment Is Jumping Higher Today
Shares of AMC Entertainment (NYSE: AMC) are rising 8.7% higher at 10:13 a.m. ET on Friday following CEO Adam Aron thanking the movie theater operator's shareholders for their support as rival Cineworld (OTC: CNNW.F) filed for bankruptcy on Wednesday.
It's been expected for some time that the Regal theater owner would eventually file, as the industry is still racked by low attendance, but Aron assured investors AMC is in a "very, very different situation."
Image source: Getty Images.
Source Fool.com
