cinemark decided to go outside. they have smaller rent as a percent of revenue.ok at companies that have not put themselves in the position. it in secret that if they raise equity and decided to get some of those landlords. rethink revenues haven't been that bad, secondly. if you look at a company like cinemark, they have grown concessions her -- concessions per head, 13 or 14 straight years. every quarter, if only i was in the doors have spent more at the concession quarter. i don't think many restaurant companies can say the same thing. we look at some of these companies like restaurant companies in some ways, as long as there is not too much of a bead from the study of standpoint -- a bleed from the study of standpoint. that is how we look at it. . joe: what happened to gamestop? katie: that was still a few months ago. for a while you did see the two trade in tandem. if you look at the meme universe, it has been rallying along with amc. but really it is amc in charge. . that announcement that they would have special screenings, free popcorn, it solidified amc'

the analyst said cinemark has similar profits with amc before the pandemic that is trading one tenththe value. jack: i think that sale of stock is a good move if somebody handled you a whole pile of currency and said tomorrow this may be worth nothing, you would spend it and that's basically what they did they turn silly money into real money. i think that's a good move. i want to move to carlton who is looking at a durable rally in bank stocks, tellis was happening there. >> when you look at the banking sector is a great year up about 30% that is due to the economic recovery and not been as bad as feared any of the larger banks have benefited from the ipo and all of that sort of stuff but the real key for the bank to continue is going to be a loan growth so far that has been flattish to negative and that's because companies are flush with cash because of stimulus, the s&p 500 sitting on 2 trillion in cash so the companies don't need to borrow but they might be feeling cautious about borrowing as recovering and as we talked about a few weeks ago some companies that may want to be inv

the box office outperformed expectations this past weekend goldman, in downgrading cinemark and imax,und is likely already calculated into the stocks and there are these other factors we have to watch now. such as the direct to consumer move by a number of studios and then potential cannibalization by that shortened theatrical window we don't know how many consumers are going to be so eager to return to the box office, return to movie theaters after getting used to watching movies at home during the pandemic, but it's going to be really interesting to see what happens this summer. i was just making jokes about, you know, facebook has f8, universal has f 9, the fast and furious franchise movie, that's a big one coming up, there's demand the demand is there. the question is just whether these stocks are overheated, considering all these different factors at play? >> yeah. and i don't think it's -- it's not necessarily a covid story where people are reticent to return for health concerns the thr, the hollywood reporter has a great piece on the reopening of the new beverly in los angeles

at home there's really nothing like that big screen experience >> reporter: three major chains, cinemark, amc and regal, are all dropping mask requirements for fully vaccinated moviegoers. but they say they'll still keep procedures like seat blocking and enhanced cleaning in place. so while we may be a long way from normal leave it to a little movie magic at the box office to offer hope for a hollywood ending >> it felt great >> reporter: steve patterson, nbc news, los angeles. >>> and it's not just the movies wedding season is also looking to bounce back so many celebrations were postponed by the pandemic and now costs are surging for couples and for their guests here's stephanie ruhle with "the price you pay. >> reporter: like so many brides suzanne morin postponed her walk down the aisle because of covid >> october 2020 was our date, and then around june 2020 was when we chose to push it we didn't want to put anybody at risk. >> reporter: her new date scheduled for this september but she's not alone. almost half of weddings in 2020 were postponed, sending demand skyrocketing this year

he thought cinemark was the one to own he was talking about an amc competitor what he said to me at the he wouldn't consider it as a fundamental analyst, he owns a lot of money what happens to him? what happens to amc? if management can continue to execute, can execute, maybe it becomes a different story and a real stock that deserves this valuation. but, again, we're dealing with something you can't predict because you don't know >> but if you were -- >> i know you want an answer, but -- >> well, no, the other phenomenon that i wonder about is now i am sure -- you go on reddit, there's a lot of folks who have pushed gamestop up very happy about the fact that it's moving into these indexes. whether you think that unto itself is going to become a phenomenon, meaning you're going to have online communities effectively try to push and prop up a stock until it can push itself into an exchange -- into an index. >> it's got to stay there, andrew in the end it does have to execute. we all know that so you can play the games. i'll give you the structure of the market has changed pretty dramatic

and cinemark and regal. investment in amc theaters, and buy the arclight theaters that have shut down. ashley: right. we can't let you go without talking about bitcoin. just had the second worst performing month. is this because u.s. regulators are turning up the heat, susan? susan: it pretty much is baked in. it should be expected. new u.s. comptroller of the currency in the biden administration saying ft there should be a perimeter for crypto there are concerns with the financial changes in the markets he says reminds him of 2008 with unregulated markets. bitcoin, i would say 37,000, we're traying higher than 34,000 lows we saw on saturday morning a two-day winning streak we're on. price volatility has calmed down, which is pretty good. price volatility between the highs of the day and the lows of the day. that has narrowed in the last few sessions. some say that is bitcoin bounced off the lows we could go higher from here. biggest ever cryptocurrency conference taking place in miami. i will see you from t

downgrade yesterday from goldman on imax and set a mark making the case that what we see -- and cinemark making the case that what we see of the entertainment business isn't going to be what we saw pre-covered. so what are people buying here at $70 a share? apparently, a lot of people don't care. tom: lisa did a word search on bearish and came up with something. [laughter] lisa: i have an alert that triggers any article that has bearish in it. the idea that there are still shorts out there, as julian emanuel was saying, he is surprised people haven't learned their lesson. if you take a look at the paper losses for short-sellers on 10 of the most short of u.s. shares, it was $4.5 billion of paper loss yesterday. romaine: that wouldn't tempt you to come out if you are a short seller? lisa: how do you understand the dynamic going on? honestly, i don't have sins of how many institutions are in here to push against their peers over on hedge fund x to try to push them out of their shorts, right? how much is that part of the action? romaine: we will find out probably two years from now once the

positive for the theater chains including amc which has been driven up by that reddit trade and cinemark and imax and also welcome news for all the other studios, disney, paramount, warner bros., they have all delayed big budget movies to debut later this year. the question now is whether the next big release, which is disney's "black widow" has a similarly big box office debut they are taking a different strategy, simultaneously launching that film in theaters and selling it to disney plus subscribers for an additional $30. so we'll have to see how that affects the box office eric handler tells us that the industry now is about 50% to 60% back to normalized levels. but 80% of u.s. leaders are open with capacity restrictions still in a number of states. noting that once more theaters are open, studios will be more eager to debut their films and just full disclosure here, "f9" parent is owned by the parent company of cnbc >> thank you for that. tesla getting into hot waters at this time over a recall. we have the details right after the break. plus, bed, bath & beyond getting an upgrade t

meme madne is really the appropriate term, whether, david, it's about a downgrade of imax and cinemark out of goldman, it does appear that adam aron has incredible situational areness and leaning into the reddit crowd. >> he is leaning into. it his contention is pretty simple as you lookt some of the work from goldman of course, where they're talking about a box office recovery, not going to be as strong as people think because of course something we've talked about endlessly here, the shortening of that window, and changing behaviors in terms of consumers but when it comes to mr. aron, i think it is pretty simple from his point of view, i used to have an insti institutional shareholder base i had large shareholders, for example, wanda bei the largest, controlling shareholder for a while, institutional base, and now they're gone, it's shareholder base on retail, it's people on reddit, it's others, and it's retail and i need to communicate with the owners of business and the west way to do that and it may be through this new connect platform that they're putting togeth, where you can ge

gonna enjoy life the best weekend and it's the summer movie season heats up theater chains amc, cinemarkal are all dropping their face mask requirements in atlanta. jonathan serrie ktvu fox two. two news more countries they're calling for answers into the origin of the coronavirus. british intelligence services are reportedly changing their assessment over the theory covid-19 leaked from a lab in china. report in the sunday times of london quotes british spies who now say the leak theory is feasible. the report comes as lawmakers in the united states continue to demand answers about the origins of covid our intelligence community. all the way back to 2010 had been identifying concerns that china had been working on manipulating viruses for biological weapons that could have grave impact a worldwide. the world health organization and china issued a report back in march, saying it was most likely the virus jumped into people from bats through another animal. the group now wants the u. s to share any intelligent it has about the origins of the coronavirus outbreak with the scientific commun

. >> it just seems to me that there are better leverages for training purposes than some of the cinemark and that have very questionable relationships shall we say. i see my time has expired. >> gentleman yields back the gentleman from georgia is not recognize pretty. >> thank you both for the work that you been doing being here today. it was brought up earlier on june the 14th, 2017, rodney and i were on the baseball field when the grays about the political ideology came on the field and try to come it. several timber other members of my family current professional security services. and friends and colleagues that do executive protection those type of services and many had questions of the capitol police ability to protect members of congress. ever since i've been in congress they been surprising relief capitol hill, the didn't have any type of protection. and if you think about it, had not scully's minute practice that tape, there would be no one there when the shots were being fired predict within a mask your if they're not have been it leadership there who had a protective detail. i

year's retail trader revolution rallying by 2,400% compared to competitor cineworld at 41% higher and cinemarkthank you for joining us. >> thank you for inviting me >> so you must be -- despite a decent share price performance, must be looking on at great envy with the share price performance of your rival, amc >> i think it's phenomenal what is happening they're much bigger. we are happy with where we are we are very happy to have all our cinemas open all around our ten territories. and we are more than happy to see how the customers are embracing the cinema, going back into the cinema, and we're really waiting for a very strong season to come >> what about the relative advantage that amc has had in being able to raise quite a lot of capital, whether they used that to pay down debt or for acquisitions or other forms of investment are you envious that they have been able to do that >> look, cineworld also raised something which is close to $1 billion since covid started. we didn't need so much as amc needed on the other hand, amc had this really amazing ride of the share price and that helped

. >> it's going to get back to somewhere near pre-pandemic normal but you have cinemark that's about 60% as big as amc its stock is up 40% year to date so we can talk about good feelings about movies coming back and the savior of cinema, but it's not really working across the board so there's a lot more going on at amc. >> mike, thank you mike santoli. >>> up next, fin tech company sofi entering the public market via spac but another firm doubling down on good old physical branches. we'll discuss that bet on bricks and mortar with the ceo of citizens financial next. you're watching "closing bell" on cnbc. we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right. usaa. what you're made of, we're made for. ♪ usaa ♪ new projects mean

stuart: we are prepared to go back to the cinemark. and all. stuart: bed bath and beyond. susan: you said you went back to the theaters? stuart: yes. in the heights. susan: wow. stuart: a week ago. susan: my goodness. stuart: show me bed bath and beyond, please. i know we got an upgrade cf ra investment firm things bed bath and beyond could go up 40% from where it is now. interesting pick bed bath & beyond, bricks and mortar. susan: correct. stuart: real comeback already $30 a share. back to the crypto. current price bitcoin 34, ethereum $2000. tell me about the crypto plays. susan: you can see they are all up and that's lifting the lights of the grayscale. micro strategy has $3 billion in bitcoin. now half of their market cap is tied to the price of crypto currency and also myers, riot, marathon with china's crackdown could be a boon for a lot of u.s. minors with coinbase getting out left along with grayscale trust and ethereum as well. can i give you a statistic on where we are going in the stock market and how much money is flooding

stalling in the stock price since their earnings and finally, goldman is downgrading, archdiocese cinemarkoffice already priced into the stock price and they say it's not a sure thing, that people will come back to theaters in droves. stuart: but amc is still straight up today. all right got that. next one? dr. fauci, he's under fire again , this time for releasing a new book about handling the pandemic while he's still on that job. got that coming up for you, plus the job creators network suing major league baseball. they say either bring the all-star game back to atlanta, or pay $100 million to the city's small businesses. the guy behind the lawsuit is here, next. >> ♪ ♪ (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that. before discovering nexium 24hr to treat her frequent heartburn, marie could only imagine enjoying freshly squeezed orange juice. now no fruit is forbidden. nexium 24hr stops acid before it st

. >> reporter: three major chains -- cinemark, amc and regal are all dropping mask requirements for fully long way from normal, leave it to the box office to offer hope for a hollywood ending. >> that's a big number for "a quiet place ii." we will see if it continues through the summer. that does it for us. stephanie ruhle picks up coverage. hey, steph. >>> hi, there, i'm stephanie ruhle. it's tuesday, june 1st, the start of five month. here's what's happening. travel is up to its highest levels in over a year as americans are turning home from the holiday weekend. as scenes at stadiums, family gatherings and beaches a sign things are returning to normal. but there's new concerning data for unvaccinated americans. >>> meanwhile, down in the state of texas, the battle over a new re