Entertainment Hollywood film

A Month Before GameStop, Retail Traders Delivered a $450 Million Windfall to Entertainment Giants

Reading now: 335
hollywoodreporter.com

Hollywood has taken full advantage of this year’s stock market frenzy, seizing on the David vs. Goliath and retail trader vs.

hedge fund storylines, which have already sparked about a dozen scripted and documentary television and film projects. But a month before "meme stocks" like GameStop and AMC Entertainment took flight and captured the public imagination, many of the world’s entertainment giants were the beneficiaries of a nine-figure windfall driven by retail trader enthusiasm.

According to filings with the Securities and Exchange Commission, ViacomCBS netted $213 million, Discovery Inc. saw a gain of $126 million, AMC Networks saw gross proceeds of $96 million, and Comcast has sold $15 million (so far).

Read more on hollywoodreporter.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA