AMC discloses large passive investment in National CineMedia.
$National CineMedia(NCMI.US$ jumps, to extend bounce off last week’s record low, while $AMC Entertainment(AMC.US$ also rallies.
In a 13G filing with the Securities and Exchange Commission late Tuesday, AMC said it owned 5.95 million shares of NCMI, or 6.8% of the shares outstanding. That would make AMC the third largest shareholder, according to data provided by FactSet.
The 13G filing implies a passive investment, which suggests AMC doesn’t intend to make changes at the company.
NCMI shot up as much as 21.4% intraday, before paring gains to be up 6.1% in morning trading. It has now gained 8.5% amid a three-day win streak, since it closed at a record low of $1.42 on Friday and Thursday.
Meanwhile, AMC’s “meme” stock climbed 7.5% in morning trading, and has soared 33.8% since closing at a one-year low of $10.37 on May 11.
The disclosure of AMC’s investment in a cinema advertising company may not be such a surprise for investors, especially when compared with the disclosure two months ago of an investment in $Hycroft Mining(HYMC.US$ .Days before the Hycroft investment was announced, the miner’s stock had closed at a record low of 29 cents. It traded down 0.8% Wednesday morning at $1.33.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
70924419 : I would say to sell both until the price goes back up but hymc is the better choice for the price......
70924419 : Now is time
to buy
Jodom_JayOP 70924419: Which one to buy?
Jodom_JayOP 70924419: You are right.
70924419 Jodom_JayOP: hymc and I have a list of other buys that are going to shoot up and a list of sells to because it will tank down...
..
and I have done this for other people on here and they have made a ton of money 
and have sent some of it to me...
but only one for free is HYMC.US is a buy because going to go up in price.
if u want more then that let me know and I can help you for some cash
because my buys and sells will make you money
so it's up to you
and good luck trading stock and options today
70924419 : buy the hymc for the people that follow me and want to make money
buy HYMC.US
Jodom_JayOP 70924419:
Jodom_JayOP 70924419: Thank you for sharing!
70924419 Jodom_JayOP: do you want my list of stocks
?
jurgen_wsb : Ncmi pays a small dividend
View more comments...