Movie Theater Stocks Crushed by Coronavirus

circa 1955: French actor Brigitte Bardot sits in a nearly empty movie theater. (Photo by Hulton Archive/Getty Images)
hoto by Hulton Archive/Getty Images

The coronavirus fears have crushed the share price of the biggest U.S. movie theater chains.

Shares of Cinemark Holdings and AMC Entertainment are down by around 23 percent since Thursday’s close. The big coronavirus sell-off in stocks began on Friday.

The decline appears to be rooted in the idea that an outbreak in the U.S. could lead to a decline in movie attendance.

Live Nation Entertainment, the live events promoter and venue operator, has also been hit by virus fears. Shares are down by a little less than 19 percent since Friday.

Shares of Uber are down around 15 percent. Shares of Lyft are down by over 12 percent.

Shares of Planet Fitness, which operates gyms around the country, are down 13.5 percent since Thursday.

It’s not all gloomy in the stock market. Shares of Peloton, which sells indoor stationary bicycles and subscriptions to live coaching events, are up around 8 percent during the period, perhaps on hopes that homebound Americans will decide to invest in household exercise equipment.

 

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