Why Cinemark Holdings Stock Popped 7% Today

Just one day after movie theater operator AMC Entertainment (NYSE: AMC) announced a grand reopening of its theaters scheduled for Aug. 20 (and another for Sept. 3), rival theater chain Cinemark Holdings (NYSE: CNK) announced a date of its own -- and gave itself a head start in attracting moviegoers. Cinemark shares closed 7.3% higher Friday on the news. Beginning Aug. 14 and continuing through Aug. 28, Cinemark says it will conduct a "phased reopening" of its theaters.