In today's episode of compounding lifestyle,#AMCArmy / #AMC100K , Revisiting Stock Picks, And A Few Tips $VIAC $AMC.
AMC stock roars amid boost from Reddit, meme stock squeeze. Shares of AMC Entertainment Holdings Inc. AMC, +7.47% rallied 3.3% in premarket trading, putting them on track to stretch their winning streak to seven sessions. That would be the longest win streak for the movie theater operator's stock since the seven days ending July 17. The stock had run up 44.2% over the past six sessions, which was the longest win streak since the six-day streak ended July 31. The so-called "meme" stock has received a boost amid renewed interest by retail investors, as MarketWatch's Thornton McEnery reported. Meanwhile, fellow "meme" stock GameStop Corp. GME, +12.93% fell 0.1% ahead of Monday's open. During AMC's latest win streak, GameStop's stock has slipped 0.7% and the S&P 500 SPX, -0.25% has given up 0.7%. The push for AMC stock today comes along with a new hashtag: #AMC100K. This is yet another short squeeze attempt from investors in AMC Entertainment. The goal is to squeeze out hedge funds and send the price of the stock soaring too, well, $100K.The attempt to send AMC stock soaring today do have it seeing heavy trading in the early morning. As of this writing, more than 38 million shares have changed hands. For perspective, the stock’s daily average trading volume is 91.3 million shares.
Unfortunately, that heavy movement isn’t transferring over to major gains in price. AMC stock is only up about 2.1% Friday morning, which has it trading at roughly $13 per share. Those apes still have a long way to go before they reach #AMC100K.
AT&T-Discovery deal puts pressure on streaming video rivals. AT&T Inc's $43 billion deal on Monday to spin out its WarnerMedia business and combine it with Discovery Inc was among the most ambitious yet in the streaming era. Media bankers and analysts said it will not be the last.
The agreement adds Discovery's 15 million subscribers to the 64 million subscribers that WarnerMedia's HBO Max has globally. The size of the subscriber base drives revenue and the budget for new content.
The bigger scale of the combined company gives it a fighting chance against Netflix Inc and Walt Disney Co., which have 207.6 million and 103.6 million subscribers, respectively.
But the deal leaves the remaining streaming players -- notably ViacomCBS Inc and Comcast Corp's NBCUniversal -- vulnerable.NBCUniversal could look toward acquiring movie studios MGM or Lionsgate, but those alternatives do not have the scale that a WarnerMedia deal would have had, Rich Greenfield, partner, and analyst at LightShed Partners, wrote on Monday. MGM has been exploring a sale that could value the studio at over $5 billion, Reuters reported earlier this year.
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