Why Cinemark Holdings Was Jumping 10% Higher Today
Shares of Cinemark Holdings (NYSE: CNK) were jumping 10% higher in afternoon trading Wednesday after rival AMC Entertainment Holdings (NYSE: AMC) updated the markets on its reopening plans following yesterday's close. AMC's stock was up 17%. The movie theater industry was devastated by the coronavirus pandemic, which forced operators to close all of their theaters for five months, a condition that nearly bankrupted AMC.