Why AMC Entertainment Stock Plunged 50% in March
Like much of the consumer discretionary sector, shares of AMC Entertainment (NYSE: AMC) fell off a cliff last month as the coronavirus spread across the country, forcing the closure of movie theaters as a number of states issued "stay-at-home" orders.
By March 17, the company said it would close all of its theaters in the U.S. for six to 12 weeks. Not surprisingly, that helped drive a 50% decline in the stock last month, according to data from S&P Global Market Intelligence.
As you can see from the chart below, the stock's plunge came mostly in the first half of the month, as the market anticipated trouble for businesses that function as gathering places.
Source Fool.com
