Movie theater operators jump as Gov. Cuomo gives greenlight to NYC reopening

Shares of movie theater operators are on the rise on Monday after New York Governor Andrew Cuomo announced that they will be permitted to open in NYC for the first time in almost a year on March 5. The theaters will only be allowed to operate at 25% of their maximum capacity, with no more than 50 people per screening. MOVIE THEATERS TO REOPEN IN NYC: For the first time in nearly a year, movie theaters in New York City will be permitted to reopen on “March 5 at 25% capacity, with no more than 50 people per screen. Assigner seating, social distancing and other health precautions will be in place,” according to a tweet by Cuomo. New York City joins the rest of the state, where movie theaters were previously allowed to reopen with similar limits. PRICE ACTION: In afternoon trading, shares of AMC (AMC) have jumped over 13%, Cinemark (CNK) has gained almost 9%, Cineworld Group (CNNWF) has risen about 11%, Imax (IMAX) has advanced over 4%, and Marcus (MCS) has gained about 5%.