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Here’s the latest news and updates for AMC, Nio and Boeing.
Shares of AMC Entertainment Holdings Inc (NYSE:AMC) are trading sharply higher by 16.96% at $30.55 in Tuesday’s premarket session following an announcement that Mudrick Capital agreed to purchase 8.5 million shares of the world’s largest theater chain.
See also: How to Buy Nio Stock
A total of $230.5 million in cash was raised from the sale, with the equity being raised at a price of approximately $27.12 per share.
AMC says the proceeds will be used primarily for acquisition opportunities and investments in existing AMC theatres aimed at growing AMC revenues, as well as for deleveraging purposes.
Nio Inc – ADR (NYSE:NIO) shares are trading higher by 3.73% at $40.06. Citigroup analyst Jeff Chung upgraded the Chinese EV maker from Neutral to Buy and raised the price target from $57.60 to $58.30.
Boeing Co (NYSE:BA) shares are trading higher by 2% at $251.95. Cowen & Co. analyst Cai Rumohr upgraded the aerospace company from Market Perform to Outperform and raised the price target from $240 to $290.
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