Going the way of Blockbuster... 2020 summer blockbusters. AMC pushed its US theaters reopening date (again) to mid-August. The world's largest movie theater chain didn't have much choice, after studios delayed releases of their biggest blockbusters: Disney pushed Mulan indefinitely and delayed Star Wars and Avatar by a year. Christopher Nolan's much-hyped Tenet was also pushed to TBD status. The longer theaters and studios stay closed, the closer AMC gets to bankruptcy.
Getting ghosted... Snap stock plunged 11% on news that its quarterly loss grew 28% from a year ago. Investors screenshotted that big L, but it wasn't all bad news for the little ghost: sales popped 17% and daily active users jumped 4% from the April quarter to 238M. Snap blamed its loss partly on long-term investments. It recently intro'd "Mini" apps in Chat, headlined by a partnership with meditation app Headspace. If those succeed, Snap could boost engagement and ad bucks with its own (Mini) app store.