Why did Wanda Movies continue to decline?

This is because Wang Jianlin sold his hotel and Wanda Tourism City at a low price. The Wanda Tourism City that he had always touted was sold at a low price, which caused him to lose confidence in Wanda, so the stock price fell and stopped trading.

Many people are unable to travel normally due to the epidemic. A large consumer group for watching movies is college students, because college students do not usually have many courses. Cinemas are a good place to watch a movie in the evening or go on a date as a couple. It's a good place to go, but now that universities are closed and you can't go out, naturally no one goes to watch movies.

At least there is no major group like college students, and people’s desire to watch movies is not as high as before. In the past, you would go if you were bored, but now unless it is particularly good, You will only go to the movies that everyone says you will go to.

Yesterday in early trading, Wanda Movies fluctuated downwards after the opening, and suddenly fell rapidly during the session. As of the morning's close, the stock was trading at 51.95 yuan, down 9.87%, and trading volume continued to increase. In addition, many Wanda bonds also fell yesterday. Currently, Wanda Film’s total share capital is 1.174 billion shares. Based on yesterday’s loss of 5.69 yuan per share, Wanda Film’s market value evaporated by 6.68 billion yuan within 2 hours of early trading.

The cause of the plunge was market rumors about Wanda. At 12:40 yesterday, Wanda Group publicly responded that yesterday someone on the Internet maliciously speculated that China Construction Bank and other banks had issued notices to sell Wanda bonds. It was learned that China Construction Bank and other banks had never issued such notices, and the online speculation was just a rumor. Wanda Group hereby solemnly declares that Wanda Group is operating well and hopes that everyone will not believe or spread rumors.

Wanda Movies can be said to be almost everywhere in Wanda Plaza, but its profitability has never been high, and it is even said that it has always been a loss, at least in most areas, because now Affected by the epidemic, there are almost no good services and entertainment industries across the country.