What a turn of events.
For years I would check all my local
@AMCTheatres each day to get a temperature check on how hot or cold the theaters were doing.
There were occasions, far and few between, where Iβd see almost full theaters and even more distant and fewer between sold out showings.
This year though, itβs been rare not to have at least a few theaters not show almost full showingsβevery single day of the weekβand itβs no longer rare to have sold out showings.
Same theaters, same seating capacity but this year all of those once unoccupied seats are now completely packed, popcorn overflowing, the smell of warm pretzels and pizza in the air, a line as big as guests waiting to enter Disneyland just to buy concessions.
Business is booming for AMC.
The stock price is not forward looking because those in control of it are terrified to remove their hands from their eyes and see the horror they brought on themselves believing AMC was destined for bankruptcy.
We all must eventually, at some point, face our fears. Short sellers included.