Here's Why AMC Entertainment and Other Movie Theater Stocks Are Plunging on Monday
The stock market was having a pretty strong day on Monday morning as investors seemed quite optimistic about President Trump's recovery from COVID-19, as well as the possibility that a new stimulus deal will be reached. As of 10 a.m. EDT today, all major market averages were in the green, with the S&P 500 higher by 0.9%.
But movie theater stocks were a major underperformer. Leading U.S. movie theater operator AMC Entertainment Holdings (NYSE: AMC) was down by more than 11% for the day on the heels of a large decline in September, and Cinemark Holdings (NYSE: CNK) was lower by 12%. And real estate investment trusts that own movie theater properties were also under pressure. EPR Properties (NYSE: EPR), which derives 45% of its rental income from theaters, was lower by nearly 10%.
Source Fool.com
