Why AMC, Cinemark, and National CineMedia Stocks Plunged Today
Movie theater stocks fell on Thursday, as multiple U.S. states and international markets reported rapidly rising COVID-19 case counts.
As of 1:41 p.m. EDT, shares of AMC Entertainment (NYSE: AMC), Cinemark Holdings (NYSE: CNK), and National CineMedia (NASDAQ: NCMI) were down 13%, 12%, and 11%, respectively.
At least a dozen U.S. states and parts of many other countries are dealing with record numbers of new COVID-19 cases. The situation threatens to force health and government officials to slow reopening plans, which could stifle a much-needed economic recovery that has only just begun.
Source Fool.com
