Cineplex reports: “Total revenues for the three months ended June 30, 2020, decreased $416.9 million (95.0%) to $22.0 million as compared
to the prior year period.”

Bloomberg says:

“Canada’s largest chain of movie theaters has gradually reopened cinemas across the country as it exits from a lockdown that began in March. As of Aug. 14, approximately 80 per cent of locations have resumed operations, the company said in a call with analysts Friday, with the remaining 20 per cent set to open by next week.”

My take: I’m actually surprised that the March to June 2020 revenue wasn’t zero. What’s not surprising is that Cineplex stock is the worst performer in the S&P/TSX Composite Index this year, having fallen about 75 per cent. Trading at~$8 (down from a high of ~$50,) I still think Canada should buy this chain to show Canadian movies to Canadians, once it’s safe to do so again. In the meantime, we could use the theatres to store PPE, right?