AMC Entertainment (NYSE:AMC) and Paramount (NASDAQ:PARA) stock continue to be hot topics among traders on Monday as actors are on strike.
The Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) is behind this strike as the union takes issue with pay from streaming services. This has some 160,000 actors taking part in the strike, with many big names supporting the movement.
At the heart of this issue are residual payments for actors. These payments have been shrinking lately as streaming services don’t pay as much for them as traditional TV. That has the SAG-AFTRA seeking a change to payment sizes from streaming platforms.
In addition to this, union members have concerns about the future of the industry. That includes inflation continuing to weigh on the economy, as well as the effects that artificial intelligence (AI) could have on the space.
What This Means for AMC and PARA Stock
Entertainment stocks are likely to suffer alongside the SAG-AFTRA strike. A lack of actors can delay the filming of movies and TV shows. In addition to that, Hollywood is also dealing with a writer’s strike that is delaying production. It’s unclear how long these strikes will go on, but it’s likely to change the types of content that are made in the coming months.
AMC is up slightly while PARA stock is down 3.6% as of Monday morning.
Investors seeking more of the most recent stock market news will want to keep reading!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
