Benzinga | Oct 5, 2020 11:50AM EDT

Why Cinemark's Stock Is Trading Lower Today

Cinemark Holdings (NYSE:CNK) shares are trading lower on Monday after a competing movie theater operator, Regal Entertainment, closed all of its U.S. locations due to a lack of big-ticket movies.

Cinemark Holdings is the third-largest motion picture exhibitor in the United States. The company operates 4,568 screens in 37 states and 12 Latin American countries.

See Also: Lack Of Movies Forces Regal Cinemas To Suspend US Operations

Cinemark generates nearly $2 billion in revenue--approximately 60% from admissions, 30% from concessions, and 10% from other sources, such as in-lobby video games. Most of Cinemark's theaters are located in midsize cities or suburbs of large cities.

Cinemark Holdings shares traded down 16.70% to $8.40 on Monday. The stock has a 52-week high of $38.37 and a 52-week low of $5.71.