It’s a grim time to be a cinema operator. At its lowest ebb this year, Regal Entertainment saw its stock drop by over 25% from the end of 2016. Cinemark Holdings fell from about the same amount from its highs earlier this year to a low at the beginning of the month. The story was similar at Marcus Corporation, and even worse at market leader AMC Entertainment, which fell over 50% from its 2017 high to its low earlier this month.