Shares of AMC Entertainment (NYSE: AMC), the world's biggest movie theater operator, were soaring today on a report in the Daily Mail that Amazon (NASDAQ: AMZN) was considering buying the movie theater chain. Like much of the entertainment industry, AMC stock has fallen sharply during the pandemic as its theaters in the U.S. and much of the rest of the chain remain closed, and its future is highly certain. Such a deal would significantly elevate Amazon's position in entertainment, as the company has long been active in video streaming and also has a strong business in connected TV devices with products like Amazon Fire TV and Fire TV Stick. Read More...
Why AMC Entertainment Stock Was Skyrocketing Today
Shares of AMC Entertainment (NYSE: AMC), the world’s biggest movie theater operator, were soaring today on a report in the Daily Mail that Amazon (NASDAQ: AMZN) was considering buying the movie theater chain. Like much of the entertainment industry, AMC stock has fallen sharply during the pandemic as its theaters in the U.S. and much of the rest of the chain remain closed, and its future is highly certain. Such a deal would significantly elevate Amazon’s position in entertainment, as the company has long been active in video streaming and also has a strong business in connected TV devices with products like Amazon Fire TV and Fire TV Stick.
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