Movie Theater Stocks Rebound After Chains Jettison ‘The Interview’

You know, I used to have a business plan: find out what targets hackers were going to hit and short them. Then of course you buy back in at the low point and you make money at both ends of the stock price dip. I would not be at all surprised if (IF this hack isn’t Sabu and the FBI, which I still think it is; what do they care about Japanese companies like Sony anyway? and maybe Sony snubbed the FBI’s media/movie outreach branch) was that. YES that sentence scans. Read it again.

Deadline

To be sure, a lot of stocks did well today: The Federal Reserve said it’s in no hurry to tighten credit, contributing to a 2% rise in the benchmark Standard & Poor’s 500. But shares of exhibition chains beat the pack as industry leaders said they won’t show Sony’s The Interview after a mysterious hacker threatened to attack venues that present the comedy about an assassination attempt on North Korean leader Kim Jong-un.

AMC Entertainment led with a 5% gain followed by Carmike Cinemas (+3.2%), Marcus (+3.0%), Cinemark (+2.7%), and Regal (+2.5%).

Even before today’s announcements, AMC received a boost from Stifel analyst Benjamin Mogil who designated the stock a “top pick” for 2015 and raised his target price to $30 from $26. The company’s efforts to load up on plush seats and IMAX screens should make its venues especially attractive next year. Analysts expect theaters to be packed as Hollywood releases a…

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Categories: Hackers

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