Why AMC Entertainment Stock Fell 22% at the Open Today
Shares of movie theater operator AMC Entertainment (NYSE: AMC) fell 22% in early trading on Wednesday. That follows a swift decline the day before. Both drops are tied to the same investor concerns.
On Wednesday, AMC filed a report with the Securities and Exchange Commission that updated its operating and financial conditions. The news wasn't particularly good, and the stock fell sharply. Basically, the company still hasn't been able to open all of its theaters, and revenue is down by 85% year over year. Worse, moviemakers are delaying key releases or canceling them altogether, suggesting that there's little opportunity for improvement in the near term.
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Source Fool.com
