Why Investors Were Roaring for Lionsgate Stock Today
The world's most famous streamer is interested in making a play for it, according to a news report.
Why Investors Were Roaring for Lionsgate Stock Today
Overview
Lionsgate Studios (NYSE: LION) received nearly as much attention as the larger Hollywood studios on Tuesday, at least from an investor perspective. Market players jumped into the company's stock after a report that a streaming giant might be interested in acquiring it.
Although the rally cooled after the streamer said it had no interest, Lionsgate stock still finished the day almost 14% higher.
Details
That apparently interested party is Netflix. Tuesday morning, in a report stating that Netflix had made an unsuccessful play for Roku, (Fox was ultimately the winner in that attempt), the news site Semafor said the streaming company remained interested in potential acquisitions.
Source
Originally published at www.fool.com.
