Lionsgate’s stock, like that of many media companies, doesn’t move much most days, but today it’s soaring, up 6% since this morning (see chart below as of 2:30 pm). It’s nowhere near the $11 high the stock hovered around for the first half of this year, but it is making a sharp recovery from yesterday’s low of $6.38.
But box-office prospects for W., Lionsgate’s fast-tracked George W. Bush biopic, are really low, with most critics saying people are over President Bush. Meanwhile, AMC just renewed Lionsgate’s hit TV series Mad Men for a third season, but it’s still uncertain whether creator Matthew Weiner will be back at the helm. So what’s fueling LGF’s rally?
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