Regal Cinemas Parent Cineworld’s Stock Plunges 35% After ‘Temporary’ Closure of Theaters

AMC and Cinemark also saw big drops on Monday

Movie theater chains took a beating on Wall Street on Monday, after Regal Cinemas parent company Cineworld announced the “temporary suspension” of operations at more than 600 theaters in the U.S. and the U.K. later this week. That news followed last Friday’s announcement that the latest James Bond flick, “No Time to Die,” was postponed from November to April 2021 — adding to an already extensive list of big budget movies that have been pushed back due to COVID-19.

Cineworld’s share price plunged more than 35% on the day, and is now down more than 80% from its all-time high set last year.

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Sean Burch

Tech reporter • • @SeanB44