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aidenborst

AMC stock jumps more than 120% to an all-time high - CNN - 0 views

  • he hits keep coming. Shares of AMC — the largest movie theater chain in the world — surged more than 120% Wednesday to a new peak above $70 before falling back slightly. Trading of the shares was halted twice due to volatility.
  • The popular WallStreetBets Reddit board has boosted the stock lately as a way to hurt short sellers who bet against the company. On Wednesday, AMC (AMC) announced that it would reach out to its new backers with an initiative called "AMC Investor Connect."
  • The company described "Investor Connect" as a way to put AMC in "direct communication with its extraordinary base of enthusiastic and passionate individual shareholders."
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  • "Many of our investors have demonstrated support and confidence in AMC. We intend to communicate often with these investors, and from time to time provide them with special benefits at our theatres," Adam Aron, AMC's CEO, said in a statement.
  • Paramount's "A Quiet Place Part II," a new horror film starring Emily Blunt, opened to the biggest weekend of the pandemic so far, notching $48.3 million for its three-day debut in North America over Memorial Day weekend.
  • The good news on Wall Street also came a day after AMC announced that it raised $230.5 million by selling 8.5 million shares to Mudrick Capital Management.
  • the turnaround is also getting a boost from movies — as well as audiences — returning to theaters over the last few months, punctuated by last weekend's big box office numbers.
  • Other promotions include special discounts and screening invites for retail backers.
  • Goldman Sachs downgraded shares of theater chain Cinemark (CNK) and big screen operator IMAX (IMAX) to a rare "sell" rating on Wednesday.
cartergramiak

Robinhood, TD Ameritrade restrict trading of GameStop, AMC stock - CNET - 0 views

  • GameStop's stock has continued to make big moves, briefly crossing $450 a share on Thursday, fueled by Reddit users collectively taking on the Wall Street establishment. But individual investors looking to make trades have faced multiple issues on trading sites and apps over recent days, with many experiencing service disruptions, according to Bloomberg.
  • Robinhood explained the move in a blog post Thursday morning, just before the stock exchanges opened: "In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOK."
  • GameStop's stock price had hovered between $4 and $20 for the past year -- until Jan. 13 when it began skyrocketing. It closed Wednesday at $346.37. 
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  • On Thursday morning, GameStop shares spiked to $467 but then crashed to $126 as investors were unable to purchase more shares. As of 8:46 a.m. PT, the stock's price had rebounded to $207.90.
  • "In the interest of mitigating risk for our company and clients, we have put in place several restrictions on some transactions in $GME [GameStop], $AMC [AMC Theaters] and other securities," reads the TD Ameritrade message.
yehbru

Opinion: How to distribute Covid-19 vaccines fairly around the world - CNN - 0 views

  • According to Dr. Mike Ryan, director of the World Health Organization's Health Emergencies Programme, one in ten people around the world may have been infected with the novel coronavirus.
  • A Gates Foundation report reveals this deadly disease to have devastated the global economy and set back the United Nations' Sustainable Development Goals by an estimated 20 years.
  • Without collaboration, the rollout of vaccines will be uneven and risks exacerbating inequalities and global tensions
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  • the World Health Organization and international health partners have created the "Access to Covid-19 Tools Accelerator" (ACT-Accelerator) to distribute 2 billion doses of a vaccine, as well as 245 million treatments and 500 million tests by the end of 2021.
  • We need to share our funds, resources and expertise to increase production of lifesaving vaccines and train healthcare workers, while bringing costs down in a way that ensures no country is left behind.
  • It has so far pledged over half a billion dollars to the initiative, with the bulk of this going to COVAX's Advanced Market Commitment (AMC) to help developing countries access approved vaccines.
  • the UK has led a match-funding initiative to the COVAX AMC --pledging £1 for every $4 invested up to £250 million -- that successfully incentivized other countries to join in this global effort.
  • We also know that of the roughly 200 candidate vaccines in development, the vast majority could fail, based on what has been learned from previous vaccine clinical trials
  • We know from previous efforts that distributing lifesaving treatments can highlight inequality built into the international system -- just recall the experience of antiretroviral therapies for HIV/AIDS in the 1990s. After some wealthier countries did not take the threat seriously enough or make equitable access a priority, an epidemic surged across sub-Saharan Africa, which killed over 2 million adults and children in a single year at its peak.
anonymous

George HW Bush apologizes actress he sexually assaulted | Daily Mail Online - 0 views

  • George HW Bush apologizes actress he sexually assaulted
  • Bush has apologized saying it was an 'attempt at humor.' 
  • President George H.W. Bush apologizes after actress claimed he 'sexually assaulted' her and insists his 'attempt at humor' was misinterpreted
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  • President George H.W. Bush APOLOGIZES after actress claimed he 'sexually assaulted' her and insists his 'attempt at humor' was misinterpreted
  • Lind took to Instagram sharing this image along with the photo in question to make the claims against the former president on Tuesday 
  • The incident allegedly happened during a photo-op at a private screening for the AMC series 'Turn'
  • The actress has not offered definitive evidence of the alleged misconduct
rerobinson03

Opinion | This Is the Wrong Way to Distribute Badly Needed Vaccines - The New York Times - 0 views

  • Leaders of the effort, known as Covax, argue that vaccines initially should be allocated proportionally by population.
  • Covax is important in the fight against Covid. That’s why its distribution methodology matters. It was formed last year by the World Health Organization; Gavi, the Vaccine Alliance; and the Coalition for Epidemic Preparedness Innovations “to accelerate the development, production and equitable access to Covid-19 vaccines.”
  • South Sudan, for instance, recently destroyed nearly 60,000 doses it received from Covax; Malawi destroyed 20,000. Neither was able to distribute its entire allotment before the vaccines expired.
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  • The Covax distribution plan calls for providing each country with enough vaccine doses for roughly 20 percent of the population. Only after that would countries’ health needs be considered.
  • Peruvians are at far higher risk right now than Ghanaians of similar age and health — and both are at far higher risk than, say, Canadians or Taiwanese. By ignoring differences in risk between countries, Covax undermines its stated aim of protecting “people most at risk and those most likely to transmit the virus.”
  • Need should be the principal criterion for distributing vaccines among countries, but not the only one. Before vaccines are sent, countries must be able to distribute and administer them. Vaccinations — not vaccines — are what save lives.
  • s the global supply of vaccines expands, vaccine manufacturers and nations expecting to have extra doses, including the United States and Britain, must decide which countries to help and how many doses to send to global organizations like Covax.But if Covax’s distribution criteria remain unresponsive to need, countries with spare doses should bypass the organization and distribute them where they will reduce deaths the most.
anonymous

"GameStop effect" could ripple further as Wall Street eyes short squeeze candidates | R... - 0 views

  • NEW YORK (Reuters) - The clash between retail traders and Wall Street professionals that sparked roller coaster rides in the shares of GameStop Corp may pose a risk to dozens of other stocks and potentially create a headache for the broader market, analysts said.
  • GameStop shares were recently down 25% on Thursday as retail brokerages Robinhood Markets Inc and Interactive Brokers Inc, restricted purchases of the stock, along with several others that have catapulted in recent days, including AMC Entertainment Group Inc and BlackBerry Ltd.. Even so, the video game retailer’s shares have gained more than 500% since last Thursday.
  • J.P. Morgan earlier this week named 45 stocks that may be susceptible to short squeezes and similar “fragility events,” including real estate company Macerich Co, restaurant chain Cheesecake Factory Inc and clothing subscription service Stitch Fix Inc
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