Shares of Cineplex have dropped 74% in 2020 as of close on September 11.
3 Beaten-Down Stocks Look Attractive, Aphria (TSX:APHA) Stock Plunges: Marijuana Industry in Trouble. Tom Gardner owns shares of Netflix. Subscriptions to streaming platforms like Netflix, Amazon Prime, and Disney Plus have exploded over the course of this pandemic.
So if you’re tired of reading about other people getting rich in the stock market, this might be a good day for you. Investors should expect to see similarly rough results for Cineplex as its operations were almost entirely shelved during Q2 2020.
Cineplex and its peers will be severely limited in August and likely for the remainder of 2020. The future of the movie theatre industry is in question. I understand I can unsubscribe from these updates at any time. CRA CERB Alternatives: 2 Must-Know Emergency Payouts, Forget Growth Stocks: Here’s How to Get Price Gains and Big Dividends, Aphria (TSX:APHA) Stock Plunges: Marijuana Industry in Trouble. While Canadian provinces have laid out plans to reopen, progress has been very slow. The long-term survival of the traditional theatre was already in question before the COVID-19 pandemic. Current as of October 27, 2020. Not to alarm you, but you’re about to miss an important event. As an enthusiast for the cinema, I will be rooting for their rebound. Renowned Canadian investor Iain Butler just named 10 stocks for Canadians to buy TODAY.
Iain and his team just published a detailed report on this tiny TSX stock. The stock did manage to latch onto the April rebound and … It announced that it will report its Q1 2020 results no later than June 29, 2020, giving the company some breathing room to plot a course forward. Movie theatres have also remained closed across North America for two months, hurting Disney and movie theatre companies like Cineplex (TSX:CGX). AMC Entertainment, the largest cinema operator in the United States, has faced similar challenges to Cineplex. This will include limited seating, staggering showtimes, and adjusting operating hours “to reflect market-specific attendance and visitation levels.” The exact date for the reopening of its digital projectors is still unknown. Is there any reason to have faith in Cineplex and the movie theatre business at large as we look ahead to the summer of 2020?
This began with 25 locations opening on July 31, each adhering to the 50 individuals per screen regulation.
© 2020 The Motley Fool Canada, ULC. Why Did Corus Entertainment (TSX:CRJ.B) Stock Soar Higher Last Week? David Gardner owns shares of Walt Disney.
On July 31, Cineplex unveiled its own phased reopening. In early May, Cineplex announced the deferral of its first quarter filing. The Motley Fool owns shares of and recommends Walt Disney and recommends the following options: long January 2021 $60 calls on Walt Disney and short October 2020 $125 calls on Walt Disney. Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned. Shares of Cineplex have dropped 58% in 2020 as of close on May 13. This will put a low ceiling on a potential comeback. In April, I discussed the crisis at AMC Entertainment. Like brick-and-mortar retailers, traditional theatres may be forced to scale back in the years to come. Returns since inception, October 2013. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Ontario, Canada’s most populous province, was the last to reopen theatres to the public.
One forecast suggested that Disney could absorb a $1 billion hit every month that its parks remained closed. The story for Cineplex stock so far Shares of Cineplex have dropped 58% in 2020 as of close on May 13. Unfortunately, movie theatres were still left in a precarious position. The COVID-19 pandemic forced theatres across North America to close their doors for the entirety of the spring season. Similar to Cineplex, AMC enjoyed a bounce back in the previous month. Disney, which looked like an unstoppable juggernaut in the entertainment sector to kick off 2020, is facing a massive slide in revenues.
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