Disastrous Thanksgiving weekend for the movie industry – just a couple more reasons why Cineworld is screwed
By Tom Winnifrith | Monday 28 November 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The Thanksgiving weekend is when Americans go as a family to see a movie in massive numbers. Well not this year. Ticket sales were just $125 million way down on prior year norms and what was expected. There are two reasons and both bode terribly for the cinema industry as established trends continue or even accelerate.
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