shares of AMC Entertainment Holdings Inc
AMC,
1344%
collected 38% in premarket trading on Tuesday to extend the previous session’s 14.9% surge fueled by the New York government Andrew Cuomo’s announcement that New York theaters could be 25% busy next week, according to The Wedbush analyst Michael Pachter reiterated the neutral rating he received for AMC over the past 11 months, but said Cuomo’s announcement was a “ray of light” for the company could potentially improve AMC’s March / Q1 and Q2 results significantly as AMC’s NYC theaters are among the top performing in its home environment, “Pachter wrote in a note to clients saying the NYC move should be other Encourage densely populated areas to reopen “However, we wonder whether the pent-up desire will lead to demand, as people may be reluctant to go to the cinema go until they get their vaccine, or whether the transmission rate drops significantly, “wrote Pachter. AMC is expected to be on or about Jan. Publish March fourth quarter results However, Pachter said the results will be a “non-event” as the focus will continue to be on liquidity. The stock has shot 209.0% year-to-date, while the S&P 500
SPX,
-072%
won 32%

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Tomi Kilgore is MarketWatch’s assistant editor for investments and corporate news and is based in New York. You can follow him on Twitter @TomiKilgore

AMC) Stock, AMC

World News – CA – AMC Entertainment stock extends rally after analyst calls NYC and reopens “ray of light”

Source: https://www.marketwatch.com/story/amc-entertainment-stock-extends-rally-after-analyst-calls-nyc-reopening-a-ray-of-light-2021-02-23