AMC Is Jumping, but This Takeover Target Is Monday's Real Winner
The stock market has been full of uncertainty lately, and that has shown up in some pretty big swings to start 2022. After a drop that sent the Nasdaq Composite (NASDAQINDEX: ^IXIC) into bear-market territory, stocks have recovered dramatically in the past few weeks. Nevertheless, the new week started out on a more-mixed note, as investors tried to assess whether rising interest rates would compound the challenges that the economy is facing and potentially produce a recession.
As of 1:30 p.m. ET on Monday, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 169 points to 34,692. The S&P 500 (SNPINDEX: ^GSPC) was down 3 points to 4,540, but the Nasdaq managed to produce a gain of 62 points to 14,232.
AMC Entertainment Holdings (NYSE: AMC) has gained notoriety as a meme stock, and it managed to give shareholders a huge gain on Monday amid news of a shift in strategy for the movie theater specialist.
Source Fool.com
