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AMC Stock Hits Highest Point Since February As COVID Comeback Hopes Kick In

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deadline.com

Dade Hayes Finance EditorShares in AMC Entertainment jumped 9% Monday to close at $6.46, their highest level since late February, the point when COVID-19 started to decimate the global movie theater business.The leading exhibitor’s stock, which had plunged below $2 in April on mounting fears of bankruptcy, peaked at $6.84 during the trading day Monday.

Its closing price was the highest since it hit $6.51 on February 25.Shares in No. 3 U.S. exhibitor Cinemark gained more than 11% to close at $19.66.

The Marcus Corp., which operates a chain of theaters as well as hotels, finished at $18.97, up 7%. Both closing prices were the highest since mid-March.

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