Why AMC Entertainment Stock Was Slipping Today
Shares of AMC Entertainment (NYSE: AMC) were sliding today for the third day in a row, as fears of a potential bankruptcy and a collapse of the movie-theater industry continued to weigh on the stock. Though there were no new updates on the company, its announcement earlier this week that it could run out of cash by the end of the year, and the decision by Regal-parent Cineworld to close down all of its theaters temporarily, continued to pressure the stock.
Meanwhile, a downbeat initial unemployment-claims report and fading hopes for another stimulus package pushed stocks lower and also dimmed the economic picture for AMC, and rising coronavirus cases across much of the country could even force it to close theaters again. The stock closed the session down 6.4%.
Image source: AMC Entertainment.
Source Fool.com
