Why AMC Entertainment Stock Plunged 50% Last Month

Few industries have been hit as hard this year as movie theaters. It's thus no surprise that AMC Entertainment (NYSE: AMC), the biggest theater operator in the country and the world, saw its shares spiral for much of October. Rising COVID-19 case counts over the course of the month caused movie theaters to again retreat. 

AMC shares finished the month down 50%, according to data from S&P Global Market Intelligence. The company also acknowledged it is facing a financial crunch that could drive it into bankruptcy as early as the end of the year.

Image source: AMC Entertainment.

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Source Fool.com