Why AMC Entertainment Is Falling 5% Today
Shares of AMC Entertainment Holdings (NYSE: AMC) are down over 5% in afternoon trading Wednesday, continuing the plunge it took yesterday following Walt Disney's (NYSE: DIS) announcement that two of its most anticipated movies would be released simultaneously to theaters and the Disney+ streaming service.
AMC and other cinema chains have been waiting for movie studios to begin releasing their films to theaters so they could begin getting moviegoers back in front of the big screen. Releasing films to streaming services at the same time they're showing in theaters undercuts the ability of theaters to recover quickly.
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Source Fool.com
