Shares of AMC Entertainment Inc. AMC,
skyrocketed 6.5% in Friday morning trading, putting in the way of a weekly gain of 36.0%, and has now risen 95.9% amid a four-week winning streak. The cinema operator disclosed in its annual report filed with the Securities and Exchange Commission that on March 5, 527, or 89.5% of its cinemas in the United States and 78, or 21.9% of its international rented and partnered cinemas , were operating with limited seating spaces. The company said that if service levels increase as expected today, as the pandemic-related restrictions COVID-19 ease, it will have sufficient liquidity to meet the minimum debt clause requirements to finance operations and meet obligations until at least March 2022. AMC said that in 2021, rental costs are scheduled to increase “significantly” because of rental obligations that have been deferred for this and future years that total $ 450 million as of December 31. The company said it will continue to explore ways to generate additional liquidity and negotiate with its landlords to reduce or postpone a substantial portion of its rental obligations. AMC shares, which have lost 45.0% since closing on a more than 2-year high of $ 19.90 on January 27, have shot up 276.3% in the past 12 months, while the S&P 500 SPX,
rose 58.5%.
