Hurricane Matthew Forces Closing of South Florida Cinemas

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Hurricane Matthew Forces Closing of South Florida Cinemas

Hurricane Matthew Forces Closing of South Florida Cinemas

$AMC, $RGC

A majority of cinemas in the Miami area will be closed Thursday night, while theaters along the coastal area south of the city may be shuttered all day.

Numerous theaters in South Florida including in Miami will be closed Thursday because of Hurricane Matthew, the strongest storm to threaten the area in years.

CARIBBEAN SEA - OCTOBER 3: In this NOAA handout image, taken by the GOES satellite at 1620 UTC shows Hurricane Matthew in the Caribbean Sea heading towards Jamacia, Haiti and Cuba on October 3, 2016. Matthew is a strong Category 4 hurricane, in the central Caribbean Sea and is poised to deliver a potentially catastrophic strike on Haiti. (Photo by NOAA via Getty Images)
CARIBBEAN SEA – OCTOBER 3: In this NOAA handout image, taken by the GOES satellite at 1620 UTC shows Hurricane Matthew in the Caribbean Sea heading towards Jamacia, Haiti and Cuba on October 3, 2016. Matthew is a strong Category 4 hurricane, in the central Caribbean Sea and is poised to deliver a potentially catastrophic strike on Haiti. (Photo by NOAA via Getty Images)

Tropical storm-force winds are expected to strike Palm Beach and Broward counties Thursday morning, with the Eye of Storm coming closest to land Thursday night.

AMC (NYSE:AMC) and Regal (NYSE:RGC), 2 of the largest theater chains in the country, operate numerous locations in the Miami area.

AMC Indian River 24, located in West Palm Beach, will be closed all day Thursday. AMC’s 7 Miami theaters will begin closing in the afternoon and remain shuttered throughout the night.

Some cinemas in Jacksonville also will be closed Thursday night. Theaters in Charleston, SC, also will be dark because of mandatory evacuations.

Theater owners will make a decision about Friday once they have a better sense of Hurricane Matthew’s intensity.

Neither exhibitors nor Hollywood studios are ready to predict how much the weekend box office will be impacted by Matthew, since it depends on whether theaters in South Florida and other coastal cities are able to reopen Friday.

Symbol Last Trade Date Change Open High Low Volume
NYSE:AMC 31.94 5 October 2016 0.31 31.81 32.1 31.63 180,800
HeffX-LTN Analysis for AMG: Overall Short Intermediate Long
Bullish (0.28) Neutral (-0.02) Bullish (0.46) Bullish (0.40)
Symbol Last Trade Date Change Open High Low Volume
NYSE:RGC 21.83 5 October 2016 0.29 21.68 21.88 21.6 2,224,800
HeffX-LTN Analysis for RGC: Overall Short Intermediate Long
Neutral (0.22) Neutral (0.21) Bullish (0.25) Neutral (0.20)

Stay home, Stay safe, Stay dry

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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