Does Amazon want to use AMC’s theaters as “marketing weigh stations,” as the “one Amazon insider” allegedly said? That is yet to be seen. While these claims have yet to be confirmed, some wonder why Amazon CEO Andy Jassy or other members of the C-suite were not necessarily mentioned. The report cites “one analyst” for a “major investment bank” in stating that AMC is a “distressed asset.”įurthermore, the article highlights Jeff Bezos as the source of decision-making for the deal. It also discusses “discussions inside Amazon’s headquarters in Seattle and entertainment offices in Los Angeles are fluid.” Accordingly, its unclear as to the sources of this information. “Amazon founder Jeff Bezos has dispatched his investment advisors and top entertainment chiefs to explore acquisition plans for embattled theater chain AMC Entertainment, according to multiple senior sources familiar with the discussions.” NEW UPDATE: DEAL OR NO DEAL BETWEEN AMC AND AMAZON? SCROLL TO THE BOTTOM AMC Stock: Is The Hype Real?Īccording to the report in its own words: But what is being overlooked is that appears to be interested in $AMC as a distressed asset, not something to buy at a premium to share price.” “For the record, I know a lot about the – story. He further highlighted the news that his Tweet was a source of the penny stock’s hype on Fintwit. In a Tweet on Tuesday, Gasparino said, “Looks like likes $AMC as a distressed asset via - Amazon Considers Buying Distressed AMC Theater Chain in Seismic Hollywood Streaming Shift.” Whatever your current opinion is, the story turned the heads of financial “pundits,” including FOX Business Network (FBN) Senior Correspondent and NY Post columnist Charles Gasparino. I will let you arrive at your own conclusions. Shares of AMC Entertainment ( NYSE: AMC) surged during the lunch hour thanks to unconfirmed reports that Amazon ( NASDAQ: AMZN) could be looking to buy the “distressed asset.” One of the most popular penny stocks in the stock market today took flight on Tuesday.
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