AMC NETWORKS Inc Common Stock (NASDAQ: AMCX)
AMC NETWORKS was off to a relatively normal start in the market today. However, that all changed minutes ago as the stock spiked. Today, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from AMCX ahead.
As mentioned above, AMC NETWORKS was off to a relatively normal start in the market today. While the stock was in the green, the gains were relatively minimal. However, minutes ago, the stock started to spike. At the moment (11:15), AMCX is trading at $53.92 per share after a gain of $1.55 per share (2.96%) thus far today.
Why Is The Stock Spiking?
As soon as we noticed the spike in the value of AMCX, the CNA Finance team started digging to see what was lying underneath the move. We believe we found the cause. AMC NETWORKS had an important conference coming soon. However, it was announced that the conference has been canceled.
Now, the question is, why does this cause gains? The answer is simple. When a conference is planned and ready to go and then canceled, there’s an insinuation that a deal is on the table. After all, prior to deals, there’s a blackout period where the company can’t say a word about anything. As a result of the canceled conference, AMCX investors and traders alike are looking for the announcement of a deal relatively soon.
What We’ll Be Watching Ahead
Moving forward, we’ll be paying close attention to this story. However, it’s important to remember that there are several reasons a conference can be canceled. While a deal may be happening, AMCX could also have canceled the conference because someone got sick. Nonetheless, this will be an interesting story to follow.
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