Why Entertainment Stocks Soared by Double Digits Tuesday

Shares of many entertainment stocks, including Six Flags (NYSE: SIX), AMC Entertainment (NYSE: AMC), Cinemark Holdings (NYSE: CNK), Live Nation Entertainment (NYSE: LYV), and Planet Fitness (NYSE: PLNT), continued this week's rally, popping over 15% during early morning trading Tuesday.

Broader markets continued the rally that began Monday, and Morgan Stanley chief U.S. equity strategist Mike Wilson said in a note to investors that he believes the worst of the market turmoil is behind us, "making the risk/reward more attractive today than it's been in years." It appears many investors are buying into Wilson's belief, and that has especially boosted entertainment stocks after they were clobbered over the past month.