AMC Entertainment Holdings Inc (NYSE: AMC) shares are moving higher in Monday’s after-hours session after the theater chain announced a partnership with Zoom Video Communications Inc (NASDAQ: ZM).
The new partnership will turn some AMC locations in the United States into Zoom Rooms. The rooms will enable companies to bring people from different markets together at the same time for cohesive virtual and in-person events and meeting experiences.
“AMC has an abundance of attractive theatres at centrally located venues in city after city after city, each with ample seating capacity, especially so during daytime hours on weekdays when most meetings take place,” said Adam Aron, chairman and CEO of AMC.
“Zoom Rooms at AMC broadens our scope, as we now can participate as well in the multi-billion market for corporate and other meetings.”
AMC and Zoom currently anticipate launching Zoom Rooms at AMC in up to 17 major U.S. markets sometime in 2023.
AMC is set to report its third-quarter financial results after the market close on Tuesday.
See Also: AMC Entertainment Q3 Earnings Preview: Apes Face Potentially Weak Quarter Riddled With ‘Release Slate Holes’
AMC Price Action: AMC has a 52-week high of $34.33 and a 52-week low of $5.42.
The stock was up 1.5% in after hours at $5.41 at time of publication, according to Benzinga Pro.
Photo: Dave Dugdale from Flickr.
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