Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why AMC Stock Dropped Today

TheMotleyFool

0 0

Shares of AMC Entertainment Holdings (NYSE: AMC) fell 7% on Tuesday, following the release of the movie theater company's first-quarter earnings release.

AMC's revenue plunged 21.6% to $941.5 million, as coronavirus-related social distancing guidelines drove it to close all of its theaters on March 17. With little revenue coming in after that time, AMC posted an adjusted net loss of $231.6 million. AMC also recorded a $1.85 billion impairment charge, as it marked down the value of many of its theaters.

AMC Entertainment stock fell after its empty theaters generated large losses. Image source: Getty Images.

Source Fool.com

Like: 0

AMC

Share