What happened Shares of Lions Gate Entertainment (NYSE: LGF.A) sank 29.3% last month, according to data from S&P Global Market Intelligence. The entertainment company's stock fell due to concerning developments for its theatrical business and turbulence in the broader market. LGF.A data by YCharts. The movie industry has faced extreme pressure as conditions related to the coronavirus crisis resulted in temporary closures for theaters and dismal attendance even after they reopened. A surge of new confirmed COVID-19 cases in October once again hurt chances for a rebound in the near term, and Lions Gate's shares steadily declined all month. Image source: Getty Images. So what Lions Gate's theatrical business has suffered diminished performance and an uncertain outlook as a result of the coronavirus pandemic. The company has also faced pressure from cord-cutting trends, which have accelerated pay-TV subscriber erosion for the company's Starz premium cable channel. Last month's dramatic rise in new coronavirus cases hurt its chances for a speedy recovery, and investors sold out of the stock. Now what Lions Gate has posted gains in conjunction with momentum for the broader market early in November's trading. The company's share price is up roughly 4% in the month so far. ^SPX data by YCharts. Lions Gate is scheduled to report fiscal Q2 results after the market closes today. The company has not given detailed guidance for the quarter, but management said in the last earnings call that it's making progress on transitioning the business to a greater focus on streaming. Lions Gate Entertainment has a market capitalization of roughly $1.5 billion and is valued at less than half of this year's expected sales. 10 stocks we like better than Lions Gate Entertainment Corporation Class AWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Lions Gate Entertainment Corporation Class A wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool recommends Lions Gate Entertainment Class A. The Motley Fool has a disclosure policy.Source