AMC Theaters bought a 22% stake in a mining company
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Archived from the IMDb Discussion Forums — Box Office
merry christmas — 4 years ago(March 15, 2022 02:43 PM)
Hycroft Mining Holding Corporation. Gold and silver mining. This seems like a bad signal for the future of the movie theater business.
https://www.yahoo.com/entertainment/amc-theatres-buys-22-stake-124624860.html
“To state the obvious, one would not normally think that a movie theatre company’s core competency includes gold or silver mining,” AMC Theatres chairman CEO Adam Aron said in a statement. “In recent years, however, AMC Entertainment has had enormous success and demonstrated expertise in guiding a company with otherwise valuable assets through a time of severe liquidity challenge, the raising of capital, and strengthening of balance sheets, as well as communicating with individual retail investors. It is all that experience and skill that we bring to the table to assist the talented mining professionals at Hycroft.”
Aron also credited the company’s recent success in ticket sales, though the company reported a $134 million net loss for the fourth quarter of 2021. “The strength of ‘Spider-Man: No Way Home’ and ‘The Batman,’ as well as 2022’s promising industry box office, heighten AMC Entertainment’s conviction that we are on a glide path to recovery,” he said. “Of course, as the largest movie theater chain in the world, we are passionately committed to orchestrating a full recovery from COVID impacts on the cinema industry.”
They claim the business is healthy so you don't dump their shares before they can diversify their company.
Schrodinger's Cat walks into a bar, and doesn't. 