Cinema stocks are riding high again today,
alongside fresh news from Texas Gov. Greg Abbott that his stay-at-home
order expires Thursday, and movie theaters are among the “Phase 1”
businesses that can reopen Friday.
Movie theaters will face occupancy limits, though, as will other retail stores, restaurants and malls: a capacity limit of 25%.
It’s “permission,” he says, and businesses aren’t required to open.
Notably, earlier this month Cinemark said that even in a normal environment it could profit at 20-30% occupancy, or even less.
AMC Entertainment (NYSE:AMC) is up 9.7% on the day; Cinemark (NYSE:CNK) +9.4%; IMAX +4.5%; Marcus (NYSE:MCS) +5.3%; Reading International (NASDAQ:RDI) +12.4%; National CineMedia (NASDAQ:NCMI) +5.6%. Cineworld (OTC:CNWGY), owner of No. 2 chain Regal, closed up 1.9% in London today.
Among other movers today: Regis (RGS +18.9%), Five Below (FIVE +7.0%), Rost Stores (ROST +6.2%), Bloomin’ Brands (BLMN +11.7%), Texas Roadhouse (TXRH +8.8%)
https://seekingalpha.com/news/3564843-texas-stay-home-order-to-expire-on-thursday
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