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AMC - Why AMC and Entertainment Stocks Are Down Big Today
AMC Entertainment Holdings Inc. Class A
Shares of entertainment stocks are down big on Friday as the market sells off risky assets, particularly those that may be impacted by a new strain of COVID-19.
In the first hour of trading today, AMC Entertainment (NYSE: AMC) fell as much as 7.2%, Dave & Buster's Entertainment (NASDAQ: PLAY) was down 9.7%, and casino stocks MGM Resorts (NYSE: MGM) and Melco Resorts & Entertainment (NASDAQ: MLCO) dropped 8.6% and 11.2%, respectively. As of 10:10 a.m. ET, these stocks were down 3.1%, 8.3%, 5.3%, and 10.2%, respectively.