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Cinema stocks jump on report of Amazon's $1B-plus investment in theatrical releases
Nov. 23, 2022 11:58 AM ET
Cinema stocks jumped just before midday Wednesday alongside a report that Amazon.com (NASDAQ:AMZN) plans to spend $1B-plus annually to make movies it will release in theaters.
AMC Entertainment (AMC) spiked 6.2%; Cinemark (CNK) rose 7.5%; IMAX (IMAX) jumped 7.1%; and National CineMedia (NCMI) rose 5.5%. Cineplex (CGX:CA) is up 2.2% in Toronto.
Amazon plans to make 12-15 movies for theatrical release each year, Bloomberg reports - starting with a smaller number in 2023 and building that output over time...........
https://seekingalpha.com/news/3911092-ci...l-releases
Nov. 23, 2022 11:58 AM ET
Cinema stocks jumped just before midday Wednesday alongside a report that Amazon.com (NASDAQ:AMZN) plans to spend $1B-plus annually to make movies it will release in theaters.
AMC Entertainment (AMC) spiked 6.2%; Cinemark (CNK) rose 7.5%; IMAX (IMAX) jumped 7.1%; and National CineMedia (NCMI) rose 5.5%. Cineplex (CGX:CA) is up 2.2% in Toronto.
Amazon plans to make 12-15 movies for theatrical release each year, Bloomberg reports - starting with a smaller number in 2023 and building that output over time...........
https://seekingalpha.com/news/3911092-ci...l-releases
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