Why Dave & Buster's Entertainment Stock Plunged 60.4% in March
Shares of Dave & Buster's Entertainment (NASDAQ: PLAY) plunged a whopping 60.4% in March, according to data provided by S&P Global Market Intelligence, and didn't stop there. The stock has fallen another 22% in the first three trading days of April, and if stores remain closed because of COVID-19, the company's future could be in jeopardy.
As COVID-19 spread throughout the U.S., it eventually shut down Dave & Buster's locations across the country. By the time April arrived, the company had closed its 137 stores and furloughed over 15,000 hourly staff. Management had also taken pay cuts of 50%, including slashing directors' cash compensation to $0 for the rest of the year.
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Source Fool.com
