Wednesday, March 3, 2021

LIONS GATE STOCK SINKS

July 16, 2010 by · Leave a Comment 

It is often the case when word gets out that one media company is considering the acquisition of another, the buyer’s stock takes a hit. Such is certainly the current case with Lions Gate Entertainment, which reportedly is in talks to buy MGM. Lions Gate stock dropped 4 percent to $6.36 on Thursday, its lowest since April. It was down an additional 3 percent to $6.16 at midday today (Friday). The drop in share price followed a downgrade from Caris & Co. analyst David Miller to “average” from “above average.” He warned that the current executives of Lions Gate might be engaged in “empire building.”