Movie theatre operator AMC Entertainment Holdings (NYSE:AMC) has been in considerable trouble ever since the coronavirus pandemic and lockdowns started. Naturally, the stock performed poorly as the company’s revenues almost went to zero.
However, in recent days, the AMC stock has become the target of retail investors from the online platform. In addition to that, experts seem to believe that the Reddit investors might actually help in bringing about further gains in the stock.
In the first quarter, AMC performed poorly as its revenues sank by as much as 84.2% to only $148.3 million and the free cash flow metric stood at a negative $325 million. However, in this regard, it should be noted that the poor performance was expected but the company did announced that it still had $1 billion in cash at its disposal. That is expected to give AMC a long enough runway to eventually turn things around when theatres open up to their capacities all over the United States.