AMCX - Why AMC Networks Stock Dropped Then Popped Today
2023-06-06 14:15:56 ET
After initially getting spooked by an analyst downgrade, investors flocked back to buy shares of cable and streaming TV company AMC Networks (NASDAQ: AMCX) , sending the shares up 2% through 1:20 p.m. ET.
The streaming company, best known for airing such hit series as Breaking Bad , Mad Men , and The Walking Dead , got hit with a downgrade to underweight ( i.e., sell ) by investment bank Morgan Stanley this morning. That explains why the stock sold off early today.
But why are investors now buying AMC stock back?
For further details see:
Why AMC Networks Stock Dropped, Then Popped Today