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While the industry has attracted record foot traffic over the past few months, the resurgence of COVID-19 cases is threatening the progress the industry has made this year. Entertainment companies are concerned about a decline in foot traffic in the coming months. The pandemic has also accelerated the shift toward digital entertainment, which is expected to affect the demand for in-person entertainment companies for an extended period.
Thus, we think it is better for now to avoid the stocks of Live Nation Entertainment, Inc. (NYSE:LYV), AMC Entertainment Holdings, Inc. (AMC), Madison Square Garden Sports Corp. (MSGS), and Six Flags Entertainment Corporation (SIX).
