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Financial Focus: Cinema stocks rise with early news of the vaccine effectiveness

Posted at 9:05 PM, Nov 09, 2020
and last updated 2020-11-10 00:05:33-05

LAS VEGAS (KTNV) — In today's Financial Focus, we have a check of the stock market and the stocks with ties to Las Vegas.

Shares for AMC and Cinemark theatres surged this morning.

AMC's stock spiked 80% in premarket trading, with Cinemark's stock rising more than 40% before the opening bell.

This after Pfizer revealed early data that its coronavirus vaccine is more than 90% effective which is far better than expected.

The vaccine news offered hope for the theater industry.

Since shutting their doors in march chains like AMC and Cinemark have struggled.

Financial Focus is sponsored by Clark County Credit Union. Watch it weekdays on 13 Action News.