Movie theater chain AMC is among the stocks lifted by the Writers Guild of America’s tentative agreement to end the Hollywood writers’ strike
Shares of movie theater and streaming stocks rose Monday, after the Writers Guild of America announced a tentative agreement to end the Hollywood writers’ strike.
On Sunday the Writers Guild of America said that it had reached an agreement in principle on all deal points related to a new 2023 Minimum Basic Agreement , subject to drafting final contract language. Shares of movie theater chain and meme stock darling AMC Entertainment Holdings Inc. AMC, -1.04% rose 0.5% in premarket trades, while rival Cinemark Holdings Inc. CNK, -0.73% rose 2%.AMC CEO Adam Aron described the deal as a cause for celebration. “An announced deal ends the 5-month long Writers’ strike, pending an affirmative union member vote,” he tweeted Sunday. “Directors and Writers contracts now behind us. Only the Screen Actors Guild left to go. The world’s movie theatres can celebrate.
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