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The AMC Entertainment (NYSE: AMC) stock price continued its downfall on Monday despite some positive moves in the industry. It slipped by over 2.20% in the pre-market session after falling by 5.4% on Friday. Altogether, AMC has plummeted by over 62% from its highest point in May as the meme frenzy faltered. Other meme companies that surged in May like GameStop and Clover Health have also suffered a harsh reversal. Box office sales are reboundingThere have been some important news from AMC and the box office industry. First, there are signs that the industry is booming as some of the most recen...
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Penn Entertainment Inc (NASDAQ: PENN) is up nearly 10% on Thursday following a report that Boyd Gaming Corporation (NYSE: BYD) is interested in buying the sports content and gambling company. Penn stock is still down some 20% versus the start of 2024. Boyd has approached Penn EntertainmentAnonymous sources told Reuters this morning that Boyd has already approached Penn Entertainment over a possible takeover. It is, however, uncertain whether the entertainment firm will initiate formal discussions with Boyd Gaming. Note that Penn will need approval from Disney as well to move forward with such ...
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GameStop Corp lost another 13% on Monday after its annual meeting concluded without a concrete update on the retailer’s future plans. GameStop hosted annual shareholder meeting on MondayThe video gaming merchandise company could not host its annual shareholders meeting last week as servers crashed due to a massive surge in interest. $GME, therefore, held its yearly meeting today which did not offer any colour of what the management plans on doing to turn this ship around. Earlier in June, GameStop reported a 29% year-on-year hit to its net sales in the first quarter to $882 million versus anal...
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The tanking of Warner Bros Discovery’s share price, and uncertainty about the company’s future, has at least led to good news and opportunity for one party. Warner Bros Discovery share price crashed to an all-time low, read our analysis: WBD could tank to $5 soon Liberty Global gains controlling interest in Formula EYesterday, broadband and telecommunications company Liberty Global Ltd. announced that it will acquire shares held by Warner Bros. Discovery in the electric car racing series Formula E. The acquisition of shares held by Warner Bros. Discovery will, on completion, bring Liberty Glob...
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AMC Entertainment (NYSE: AMC) stock price has erased most of the gains made during the recent meme frenzy. It has plummeted by almost 60% from its highest point this year, lowering its market cap to about $1.9 billion. More challenges remainAMC Entertainment has benefited from the recent meme stock frenzy, which has helped it to raise some cash to boost its balance sheet. It raised $250 million by selling 75 million shares for an average of $3.50. The new fundraising came after the company raised over $800 million in 2023 to support its balance sheet and deal with its mountain load of debt. It...
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AMC Entertainment Holdings Inc (NYSE: AMC) is bringing its summer movie camp programme back this summer. Shares of the cinema chain are up 15% at writing. What does it mean for the AMC stock?AMC said its summer movie camp programme will go live on June 24 and will remain in place until August 14. During this period, customers will be able to watch select movies for only $3.0 (excluding tax) at its participating theatres. A new title will be available on Monday and Wednesday of each week, as per a press release on Tuesday. Note that over 250 AMC locations across the United States will participa...
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GameStop stock (NYSE:GME) price drop has had a profound impact on the meme coins, leading to widespread declines in meme coin prices. While GameStop Corp. is a renown American video game, consumer electronics, and gaming merchandise retailer, its stock among the meme stocks which is the reason as to why its price movement correlate with that of meme coins. The popular meme stock is AMC Entertainment Holdings (NYSE:AMC), which on 11 June, 10:34 GMT-4 was up 3.61% contrary to the GameStop (GME) stock that was down 1.13% at the same time. GameStop stock decline post Roaring Kitty hypeOn June 7, t...
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GameStop Corp (NYSE: GME) opened about 20% down on Friday after filing to sell additional shares in an at-the-market offering. How many shares does $GME plan on selling?The video gaming merchandise retailer plans on offering 45 million shares in total. What it plans on doing with the proceeds, however, remains unclear. $GME is opting for a stock sale shortly after a brief return of the meme stock craze that saw its shares trade at a high of about $65. But they crashed sharply after the short squeeze and are now trading at $22 and change. The massive gain in GameStop stock that lasted hardly fo...
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AMC Entertainment (NYSE: AMC) stock price is going parabolic this week, as I have long predicted here, here, and here. In another report in February, I argued that it was always darkest before dawn for a beaten-down stock like AMC. Now, it soared by 78% on Monday and is up by another 52% on Tuesday. Why AMC Entertainment is soaringAMC Entertainment is not the only meme stock that is soaring. GameStop (GME) stock price surged by over 74% on Monday and is now up by over 47% in the pre-market session as I predicted last week when I noted that it could jump by 140%. The main reason for the rally i...
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GameStop Corp (NYSE: GME) opened about 40% up on Monday after “Roaring Kitty” made a post on “X” for the first time since 2021. Why does Roaring Kitty matter for $GME?That’s significant since Keith Gill who goes by “Roaring Kitty” on X and “DeepF******Value” on Reddit is the one who inspired the short squeeze of 2021. He, therefore, is the pioneer of the meme stock frenzy so to speak. Gill even faced a class-action lawsuit that alleged he acted as if new to trading but was a licensed professional instead. The ex-marketer at Massachusetts Mutual Life Insurance testified before Congress as well....
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