Movie Theater Stocks Rally On Vaccine News, Cineworld Liquidity Lifeline

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Stocks in U.S. movie theater circuits AMC and Cinemark staged rallies today after more positive COVID-19 vaccine news as well as a new financial lifeline for Cineworld

Broader stocks all moved higher, with the Dow Jones Industrial Average hitting 29,591.27, close to its all-time high.

The fate of theatrical moviegoing has been a looming uncertainty in 2020 as COVID-19 has decimated the business and other sectors predicated on large gatherings of people. Domestic box office is down more than 80% from 2019 levels. Even though no cases of virus transmission have been traced to, the exhibition industry has found itself in the same category as bars and nightclubs in the view of most safety officials.

Several hundred movie theaters across the country have had to close their doors again amid a surge in infections. Releases this month and next, including, will bring changes to traditional windows. While some are skeptical, the consensus among Wall Street analysts is that the theater business will start to rebound in 2021.

Despite the short-term stock gains, damage to exhibition shares has been severe. In a year when the S&P 500 has gained 10%, AMC and Cinemark shares have each fallen more than 50%, while Marcus – which also operates hotels – has dropped 62%.

 

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We all miss going to the movies. Movie Theaters Movies Theater Film Release MovieTheater MovieTheaters

B-B-But movie theaters are doomed! /sarcasm

Good. I miss going to the movie theaters...

They need to have a special binge watching return to the movies week when we get the vaccine. I want to go and watch ALL the movies!

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