Hollywood Strike Clouds ‘Barbenheimer’ Bump for Movie Stocks
- Theaters face big weekend with debuts of Barbie, Oppenheimer
- Walkout by writers and actors creates uncertainty for industry
Writers Guild of America and Screen Actors Guild members and supporters on a picket line outside Paramount Studios in Los Angeles, California, US on July 17.
Photographer: Eric Thayer/BloombergThis article is for subscribers only.
As buzz builds into the premieres of Barbie and Oppenheimer, some on Wall Street are doubting whether the films will be enough to power further gains in movie-theater stocks as a strike by Hollywood writers and actors clouds the outlook for the industry.
JPMorgan Chase & Co. downgraded its recommendation on Cinemark Holdings Inc. this week, saying the actors’ walkout limits visibility into the film supply. Analyst David Karnovsky noted that the strike has already halted production for several movies slated for the second half of next year.