James Bond Got People Back in Theaters, But Can He Kickstart Cinemark's Growth Again?
While perhaps not quite as tasty as Bond's famous martini that has been "shaken, not stirred," the latest James Bond film, No Time to Die, still registered solid box office results, giving Cinemark Holdings (NYSE: CNK) a nearly 4% one-day stock market boost. The success comes less than two weeks after Venom: Let There Be Carnage also raked in an unexpectedly large windfall on its opening weekend in the U.S. While this is certainly positive for theater companies like Cinemark, there's still strong reason for caution.
Recent box-office performances seem to show that after months of lockdowns, closures, social distancing, and other COVID-19-related actions, streaming services still haven't quite finished off demand for viewing movies in physical cinemas. Shrugging off the greater convenience of streaming new movies directly into their homes, people crowded into big-screen public venues in October to watch films the traditional way.
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Source Fool.com
