Potentially as a result of better-than-hoped data related to inflation, as well as an electoral midterm that didn’t result in a so-called “red wave,”A surprise Wall Street strength day gave several well-known entertainment stocks a boost.
Generally, entertainment stocks outperformed the S&P 500, which ended the day at 3,956.37 (+5.54%) as the Dow rose 3.7% to end the day at 33,715.317.
Netflix gained over 20 points today, and almost 8% today, to close at $274.97. Snap rose just over 1 percent, ending at 10.73. Alphabet, Inc. was also up 6.77 point (+7.75%), with a day ending price of $94.17 per shares.
Even Twitter, currently dealing with much-publicized challenges related to Elon Musk’s new ownership, stayed even at $53.7.
Facebook/Meta also announced plans to layoff 11,000 employees. Their share price jumped by 10 points and 10.25% to $111.87.
Sony Group Corporation finished the day with a 5 point (+6.65%) gain for $80.50 per share. Lions Gate Entertainment Corp. gained 9.56% to close the day at $6.99
Paramount Global, which was hit hard last week when it revealed its third quarter numbers for the year, saw its share price jump 1.04 points (+6.7%) to $16.57.
Warner Bros. Discovery, which is also dealing with turmoil due to regime changes, attempts to reduce debt loads, and attempts to harmonize, rose 9.76% (+0.96), ending the day at $10.80.
Walt Disney, the much-anticipated “Black Panther: Wakanda Forever”The opening theatrically this week saw an increase of 3.71 points (+4.28%), for a new share price of $90.46. This happened just days after Disney+ boasted 164 million subscribers.
AMC Theaters rose 18.11% to reach $6.13. Cinemark closed the day at $11.92, a +0.21 or +1.79%. IMAX finished the day at $13.70 (+5.96%).
