Leading theatre chain exhibitor AMC Entertainment Holdings, Inc. (NYSE: AMC) recently revealed that it has acquired seven properties from Bow Tie Cinemas in Connecticut, upstate New York and Annapolis, MD. Following the news, shares of the company gained marginally to close at $17.51 in Tuesday’s extended trading session. The stock, however, declined 6.9% during the normal trading hours. Strategic Impact With lockdown measures and restrictions almost non-existent now, theatre chains have started witnessing heightened occupancy rates. To that end, AMC’s move to strengthen its portfolio, with these properties in prime locations like upstate New York and Annapolis, MD, bodes well for the company after a tough couple of years.
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AMC Entertainment (NYSE:AMC)
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