April 13, 2024
National CineMedia goes bankrupt and the stock more than doubles on massive volume

National CineMedia goes bankrupt and the stock more than doubles on massive volume

Shares of National CineMedia Inc. have more than quadrupled in two days, as Wall Street appeared to shrug off the in-theater advertising company’s bankruptcy filing, and focused instead on the upbeat revenue outlook.

“Despite a difficult advertising environment and a still-recovering box office, NCM [National CineMedia] is well-positioned within the ad delivery ecosystem as theatrical attendance is beginning to meaningfully rebound,” Wedbush analyst Alicia Reese wrote in a note to clients. “We think NCM is fundamentally set…

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