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Why AMC, GameStop, and Virgin Galactic Were Falling Today

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Why AMC, GameStop, and Virgin Galactic Were Falling Today
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Shares of AMC Entertainment (NYSE: AMC), GameStop (NYSE: GME), and Virgin Galactic (NYSE: SPCE) were all falling by mid-single-digit rates or more in morning trading Thursday even as the market indexes themselves were mostly flat as they digested the latest jump in jobless claims. AMC was down 7%, GameStop was off 4%, and Virgin was declining 6.3%. Although I think AMC is the weakest of the three, it does have the cash to survive for quite a while, so there will be plenty of time to panic-sell later on if the movie theater business just can't recover from the pandemic and the launch of so many movie streaming services.