Which AMC?! TV Company Stock Pops, Theater Circuit Dips After Amazon Rumor Gets Rewrite
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deadline.comBy Dade Hayes Finance Editor Shares in AMC Networks rose 12% to a two-month high Tuesday after a report redirected an earlier account of potential acquisition interest by Amazon to AMC Networks and away from AMC Entertainment.
The stock movement came suddenly and late in the session on a day when most stocks ended in the red, with the Dow and NASDAQ each falling about 2%.
AMC Entertainment shares slipped nearly 4% to $5.12. AMC Networks closed at $28.34 on more than four times’ average volume. None of the companies involved in the reports had any immediate response to Deadline’s outreach about the market scramble, which it seemed to be possibly fueled by little more than speculation.
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