logo
Plus   Neg
Share
Email

Stock Alert: AMC Entertainment Trading 23% Higher

Shares of AMC Entertainment Holdings, Inc. (AMC) are climbing more than 23 percent or $0.97 in Wednesday's morning trade at $5.11. The stock has traded in a range of $1.95 to $15.30 in the past 52 weeks.

In response to comments by Comcast Corp.'s (CMCSA) unit Universal Studio about the simultaneous theatrical and home release of movies, AMC Entertainment said Tuesday it will no longer play any Universal movies in any of its theatres in the U.S., Europe or the Middle East.

AMC Entertainment noted that the policy affects any and all Universal movies per se, going into effect today and as the company's theatres reopen after the coronavirus pandemic subsides.

The theatrical exhibition company said it believes that with the proposed action to go to the home and theatres simultaneously, Universal is breaking the business model and dealings between the two companies.

Universal recently released its "Trolls: World Tour" movie directly to streaming platforms, while movie theaters remained closed due to COVID-19. However, the company said it only pursued the direct-to-home entertainment release for the movie as theaters were closed and it was committed to a lucrative toy licensing deal.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hyundai Motor has launched a new IONIQ brand dedicated to battery electric vehicles, as the automaker is accelerating its efforts to gain a share in the fast-growing global EV market. Under the IONIQ brand, Hyundai plans to introduce three new dedicated electric vehicle models over the next four years. Hyundai is South Korea's largest automaker. Amazon.com, Inc. is in talks with mall operator Simon Property Group, Inc. to use the abandoned anchor departmental stores of JC Penny and Sears at their malls as fulfillment centers, reports said. This is expected to help the e-commerce giant in boosting their last mile delivery, which is the last leg of the delivery process. The U.S. Food and Drug Administration announced the approval of Trevena Inc.'s Olinvyk (oliceridine), a new opioid for intravenous use in hospitals or other controlled clinical settings. Olinvyk is an opioid agonist to manage moderate to severe acute pain in adults, where the pain is severe enough to require an intravenous opioid and for whom alternative treatments are inadequate.
Follow RTT