By Dan Gallagher
AMC's new position as a favorite of the latest YOLO binge is
also boosting the stocks of other movie theater chains, though the
aren't rising nearly as much yet.
Cinemark Holdings was up nearly 12% by early Wednesday
afternoon, while U.K.-based Cineworld closed trading in London with
a 10% gain. National CineMedia, which specializes in on-screen
advertising at the major chains, was last up 20%. Those still look
mild next to AMC's shares -- last up 236% for the day.
Ironically, the boost came following a bit of downbeat news for
theater chains. AT&T reported that activations to its HBO Max
streaming service totaled 17.2 million at the end of the fourth
quarter --double what the service had at the end of the last
That could be a bad omen for theaters, as the quarter included
the release of "Wonder Woman 1984" into both theaters and on HBO
Max on the same day -- that's only the first of several Warner
that will see such treatment this year. Hopefully, the Reddit crowd
saves some money to pick up some actual movie tickets when the time
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