AMC Entertainment (AMC) Stock Consolidates Strongly Near $10: What Next?

The coronavirus pandemic had come as a major blow for a range of businesses and one of those was AMC Entertainment (NYSE:AMC). However, it seems that the company might be on the path to recovery if its projections for 2021 and 2022 are to be believed.

AMC Entertainment (AMC) Stock Consolidates Strongly Near $10: What Next?

During the earnings call last week, the Chief Executive Officer and the Chief Financial Officer of the company stated that its cash is going to last up until 2022.

At the end of Q1 2021, the company had a cash pile of $1 billion and on top of that AMC is also expected to raise another $400 million by way of an at the market offering. The CEO went on to state that the company is also going to be free cash flow positive in 2021 and in 2022. This will help AMC in sustaining its business over that period. Analysts have projected that the company is going to have revenues of $5.19 billion by 2023.

Uson Abdilazhanov

Editor and Computer Expert A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.