AMC Theatres Stock Rises After Reports Amazon Might Want to Buy
Intersect reported that Amazon was weighing the possibility of adding AMC to its portfolio as the chain’s 600+ theaters in the U.S., Europe and Middle East could be used as part of the company’s campaign to expand the theatrical footprint of Amazon Studios, which is set to release more films like Ben Affleck’s “Air” as full theatrical releases as well as films from the recently acquired MGM like “Creed III.” Following the report’s publication, AMC’s stock saw a 13% increase to $5.15/share at time of closing on Wall Street. AMC’s stock has plummeted from its meme stock highs in 2021 and is down 82% from a year ago.