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Not So Fast: Market And Showbiz Shares Swoon As COVID-19 Cases Spike In Some States, Theater Stocks Hard Hit

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11.06.2020 - 23:47

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deadline.com

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Jill Goldsmith Stocks sank Thursday as states from Arizona to Florida, North Carolina and Texas and some international markets reported rising coronavirus case counts.

Companies like theater chains with the most at stake for a smooth reopening were hit the hardest.Shares of Cinemark and National CineMedia were down over 11% and 12% respectively in afternoon trading.

AMC Entertainment had plunged more than 1% after days of gains. Marcus, which announced phased reopening plans this morning, was off 8%. (Airlines, cruise lines and hotel stocks were also getting killed).The DJIA had plunge by more than1,700 points, or nearly 6.5%, it’s worst showing since mid-March.

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