Netflix and Gaming Stocks Gain, Many Hollywood Majors Fall Amid Pandemic

One analyst says that there may be an"exaggeration" of negative expectations among media and entertainment investors.

With the dust settling on the first half of 2020 at the market close on Tuesday, U.S. stocks seemed to have had the best quarter in more than 20 years. But while the stocks of many big-name entertainment companies rose in the second quarter, they finished the first half down much more than the broad-based S&P 500 stock index, which is down about 5 percent as of the half-way mark of the year despite a 20 percent gain in the past three months.

Meanwhile, Fox Corp.'s shares dropped 26.4 percent over the first half , with ViacomCBS being the worst performer among industry giants for the year so far with a 44.3 percent drop, but having an extraordinary second quarter that saw it climb more than 65 percent.

It's over for the big conglomerates. They will be buried alive under a mountain of debt. They were screwed even before this.

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