AMC to face growing headwinds.

$AMC Entertainment (AMC.US)$ Despite all the furor, AMC remains under significant pressure. AMC stock is down 76% over the past 12 months. Despite moviegoers returning to cinemas in large numbers and a strong backlog of blockbusters such as Top Gun, Marvel, and Jurassic Park movies, the balance sheet debt levels remain a significant headwind. In order to survive, AMC renegotiated rent payments and took on increased debt levels. With a rising yield environment, both rents and interest payments will continue to hinder AMC's balance sheet and make it uninvestable in our view.