Cinema Stocks Drop Up to 31% as Coronavirus Shuts Theaters, Delays Releases

A day after some U.S. cities order movie theaters to shut down, cinema stocks see declines across the board

Entertainment stocks continued to take a hit on Monday as the spread of the novel coronavirus throughout U.S. cities forced the closures of bars, restaurants and movie theaters, while leading many major publicly traded companies to suspend certain business operations.

At this point, almost all sectors have been impacted by fears over the spread of COVID-19. On Sunday, following a weekend in which social media was flooded with photos and video of people interacting with crowds, the mayors of both New York City and Los Angeles made the decision to close bars, prevent dine-in seating at restaurants and shut down movie theaters.

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Trey Williams

Trey Williams

Film Reporter covering the biz • trey.williams@thewrap.com • Twitter: @trey3williams