Shares of AMC Leisure Holdings (NYSE:AMC) are off to the races once more, leaping 10% in morning buying and selling Monday as buyers attempt to ignite pleasure within the inventory, as occurred again in January.
Shares of GameStop, which was on the coronary heart of the short-squeeze frenzy a month in the past, started spiking again final week and have greater than doubled in worth. AMC buyers, who could also be attempting to duplicate these positive aspects, have at the very least somewhat extra to hold their hats on.
Final week, the corporate introduced it was reopening theaters in New York after the state lifted its ban, and there will likely be a full slate of flicks coming to the theater chain this 12 months to hopefully bring customers back to the cinema.
Though the theater operator walked alongside the precipice of chapter till it was bailed out by its lenders, AMC did see match to award administration some $8.3 million in bonuses. In a Securities and Change Fee submitting on Friday, the theater chain stated the bonuses had been awarded “to acknowledge the extraordinary efforts of workers to keep up the Firm’s enterprise and protect stockholder worth through the COVID-19 pandemic.”
CEO Adam Aron obtained $3.75 million, whereas 4 different named executives obtained a mixed $1.1 million, or practically 60% of the full bonuses issued. The rest was to be cut up amongst theater managers and firm associates.
It will seem, on the floor anyway, that AMC Leisure has put its monetary woes behind it.
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