Cinema Stocks Surge as Movies Set to Reopen In NYC at Reduced Capacity By Investing.com

AMC and several other cinema related stocks rallied Monday after New York Governor Andrew Cuomo said that movie theaters in the city will be allowed to reopen with reduced capacity on Mar. 5.

AMC Entertainment (NYSE:AMC) was up 13%, and Imax (F:IMX), Cinemark Holdings Inc (NYSE:CNK) and National CineMedia Inc (NASDAQ:NCMI) were sharply higher. 

Cinemas will be allowed to reopen at 25% capacity, and restrictions will limit moviegoers to no more than 50 per screen, with masks, social distancing and other protocols to remain in place.