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Redbox Entertainment Rally Continues, Shares Gain 20%

Shares of Redbox Entertainment Inc. (RDBX) are gaining over 20% on Wednesday morning despite no stock related news from the company. The company continues its rally, with the shares gaining nearly 50% in the month-to-date period.

RDBX is currently trading at $10.45, up $1.90 or 22.22%, on the Nasdaq, on a heavy volume of 26 million, above average volume of 16.7 million shares. The stock opened its trading at $6.83 after closing Tuesday's trading at $8.55. The stock has traded between $1.61 and $27.22 in the past 52 week period.

Redbox Entertainment operates a network of self-service kiosks in the US. It operates a network of approximately 38,000 self-service kiosks, where consumers could rent or purchase new-release DVDs and Blu-ray Discs.

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