Yahoo Finance's Sibile Marcellus joins The First Trade to discuss the possibility of movie theaters reopening in California and the guidelines that would be set in place.
BRIAN SOZZI: All right, welcome back to "The First Trade." Hollywood may be making its comeback on the west coast. California movie theaters are waiting on approval from Governor Newsom. If approved with guidelines in place, they may open as soon as Friday June 12. Here with the details is Yahoo Finance's Sibile Marcellus. Sibile, some good news, movie theaters?
SIBILE MARCELLUS: That's right, some entertainment for all of us who've been stuck at home. So it looks like AMC and other movie theaters are going to be able to open soon, even as soon as this Friday when it comes to the state of California. But we're going to find out more details about it nationwide on AMC's earnings call after the closing bell today. But this is good news for investors who've seen their investments go down as we've been dealing with the shut down.
And in terms of the different companies how they've been handling the shutdown and the reopening of their movie theaters, we have, for example, AMC competitor Arclight Cinemas, for instance. They won't be opening all their cinemas all at once. They'll be doing it one at a time. We'll see how they phase it. And also Cinemark will also be doing a similar thing.
And in terms the guidelines for the movie theaters, so what the experience will be like when you're in there, they're limiting the number of attendees to about 25%. This is for California. They're going to be using a reservation system so that everybody doesn't arrive all at the same time, there aren't these long lines trying to avoid the crowds. And in terms of moviegoers, you will be required to wear a face mask but not when you're eating or drinking.
ALEXIS CHRISTOFOUROS: Yeah, I would hope not. All right, I don't know if I'm-- I'm ready to do that quite yet. But certainly an encouraging sign that these theaters may start opening. Sibile Marcellus, thank you.