# Cineworld eyes Wall St money after rival AMC becomes meme stock Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-08-12 Category: INVESTING Category URL: https://financedigest.com/category/investing Meta Title: Cineworld mulls Wall Street listing amid pandemic woes Meta Description: Read about how Cineworld is exploring a potential Wall Street listing to support its financial position during these challenging times. URL: https://financedigest.com/cineworld-eyes-wall-st-money-after-rival-amc-becomes-meme-stockhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2021-08-12t083058z3lynxmpeh7b09ertroptp3cineworld-grp-results-1736838021614-compressed.jpg) By Muvija M and Chris Peters (Reuters) -Cineworld is considering a Wall Street listing for all or part of its business in an effort to bolster its finances which are under heavy pressure from the coronavirus pandemic. A U.S. listing would give heavily indebted Cineworld access to the largest [capital market](https://www.financedigest.com/digital-finance-unlocking-new-capital-in-disrupted-markets.html "Digital Finance: Unlocking New Capital in Disrupted Markets") in the world, where rival U.S. cinema [group AMC this year](https://www.financedigest.com/scottys-little-soldiers-become-incentive-fm-groups-chosen-charity-in-three-year-partnership.html "Scotty’s Little Soldiers Become Incentive FM Group’s Chosen Charity In Three Year Partnership") became one of the so-called “meme stocks”, sending its shares skyrocketing. Shares in Cineworld, which gets the [bulk of its revenue](https://www.financedigest.com/bulk-ferroalloys-market-to-witness-increase-in-revenues-by-2019-2027.html "Bulk Ferroalloys Market to Witness Increase in Revenues by 2019-2027") from its Regal cinemas in the United States, jumped 8% by 0833 GMT on the FTSE midcap index. We believe this is quite an [interesting consideration which could be supportive of valuation if we were to see](https://www.financedigest.com/portugal-pm-welcomes-lufthansas-interest-in-tap-scholz-sees-good-fit.html "Portugal PM welcomes Lufthansa’s interest in TAP, Scholz sees good fit") similar support in Regal as was with AMC,” BofA analysts wrote. The company, which had net debt of $8.44 billion as of the end of June, said cash burn was $271 million in the first six months of the year, while losses narrowed to $576.4 million from $1.64 billion last year thanks to tighter [cost control](https://www.financedigest.com/dutch-telecom-kpn-locks-in-2023-targets-helped-by-cost-controls.html "Dutch telecom KPN locks in 2023 targets helped by cost controls"). Rival AMC, the world’s biggest cinema theatre group, has also reported a big quarterly loss, [saying ticket sales](https://www.financedigest.com/aldi-uk-says-december-sales-up-26.html "Aldi UK says December sales up 26%") were running at less than one-third of 2019 levels. NEW RELEASES People have flocked [back to cinemas in the past few months to watch movies such as Marvel’s “Black](https://www.financedigest.com/back-to-black-germanys-coal-power-plan-hits-hurdles.html "Back to black? Germany’s coal power plan hits hurdles") Widow” and Paramount thriller “A Quiet Place 2. Cineworld boss Mooky Greidinger expressed confidence in a line-up of big releases ahead, including four new Marvel movies and Tom Cruise’s “Top Gun Maverick”, the new James Bond movie, “The Matrix 4” and science fiction film “Dune”. All of Cineworld’s 787 sites were open as of June, with Greidinger saying ticket sales were now at more than 50% of pre-crisis levels, as the United [States and the UK eased months](https://www.financedigest.com/inflation-in-key-german-states-eases-for-second-month.html "Inflation in key German states eases for second month") of pandemic curbs after vaccination drives picked up pace. But concerns over new variants of the virus and an accelerated shift by studios to release movies simultaneously on [streaming platforms](https://www.financedigest.com/lending-stream-builds-leading-edge-credit-platform-with-fico-analytic-software.html "Lending Stream Builds Leading-Edge Credit Platform with FICO Analytic Software") are still a cause for concern. Cineworld said it was expecting the window for movie releases in theatres to stabilise to somewhere between 20 and 60 [days by next year](https://www.financedigest.com/tall-marks-its-25th-year-with-celebration-day.html "TALL Marks its 25th Year with Celebration Day "). One of the most [significant things that we all learned from the short window is that it creates an opportunity](https://www.financedigest.com/anz-automotive-battery-market-to-witness-significant-incremental-opportunity-during-2020-2030.html "Anz Automotive Battery Market to Witness Significant Incremental Opportunity During 2020 – 2030") for high-quality pirated copies which is going all over the world,” Greidinger said. (Reporting by Muvija M and Chris Peters in Bengaluru; Editing by Subhranshu Sahu, Susan Fenton, Anil D’Silva and Jane Merriman) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---