Mudrick Capital reportedly flipped 8.5 million shares of AMC on Tuesday, but the investment firm could have made a lot more money if it held onto them.
Cinemark (CNK) – Cinemark is among movie theater chains seeing positive sentiment today, after A Quiet Place, Part II topped the weekend box office with more than $58 million in ticket sales. That was the highest weekend total for any movie since the pandemic began. AMC, Cinemark and Regal Cinemas have also lifted all mask mandates for fully vaccinated customers. Cinemark rose 1.8% in the premarket.
Cloudera (CLDR) – Cloudera agreed to be acquired by private-equity firms KKR (KKR) and Clayton Dubilier & Rice for $16 per share. The cloud-based data analytics company s shares surged 24.8% in premarket trading.
Canopy Growth (CGC) – The Canadian cannabis producer reported a 38% jump in revenue during its fiscal fourth quarter, though that increase was slightly smaller than analysts had been anticipating. Canopy Growth cut its quarterly loss by 8% and reiterated that it expects to become profitable during this fiscal year. Its shares rose 1% in premarket trading.
By Sarah Whitten, CNBC •
Updated 2 hours ago
Angela Weiss | AFP | Getty Images
AMC has pivoted back to an offensive strategy on a bet that its retail investors will stick with the company long enough for it to recoup its pandemic losses.
Since the January stock surge, some retail investors have used social media to attack anyone who shares negative opinions of AMC.
AMC Entertainment made a gutsy move Tuesday. The movie theater chain has pivoted back to an offensive strategy on a bet that its retail investors will stick with the company long enough for it to recoup its pandemic losses.