Meme Gang cheers on Spidey for saving movie theaters

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Illustration by Elias Stein


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AMC Entertainment Holdings shares rose 2%, to $ 29.70, last Monday – an otherwise difficult day for stocks – as CEO Adam Aron and AMC supporters on Reddit applauded the theatrical debut. Spider-Man: No Way Home, which grossed $ 260 million at the weekend’s domestic box office, a pandemic record and the second-best open of all time. Despite Omicron’s fears,


Sony‘s
Spidey’s latest movies such as the ones from 2018 Avengers: Infinity War and 2015 Star Wars: Episode VII — The Force Awakens.

“The self-centered and often false conventional wisdom that streaming will conquer theaters just doesn’t know how to handle the news,” Aron tweeted. “Hey prophets of doom #CHOKEonTHAT.”

Reddit users, gathered on the AMCStock forum, echoed Aron. They call themselves “apes”; Aron is the “silverback”. Aron retweeted photos of himself with AMC fans who attended a 20th Century Studios’ premiere screening on Sunday. The king’s man, another holiday movie. “I must love our CEO of Silverback! Exclaimed a Reddit user. “I can’t get the magical feeling when the whole theater is clapping and clapping during key scenes while you broadcast alone at home, eating Doritos on your couch,” said another.

The debut was not enough for B. Riley’s Eric Wold to increase his AMC Hold rating and his target price of $ 16. Wold, however, is optimistic about 2022 in theaters, with, he wrote, “three Marvel Universe films, four DC Universe films, plus sequel to Jurassic World, Transformers, Impossible mission,Top Gun, and Avatar.“Go with the popcorn.

Last week

A gift before the holidays

Stocks were rocked by both Omicron and Sen. Joe Manchin’s brace as the lead-up to Christmas began. Oil prices have fallen amid fears of slower growth and the demise of the White House’s Build Back Better stimulus package. The Davos World Economic Forum has been postponed. Stocks rallied on Tuesday and Thursday as Omicron fears eased a bit. During the short week, the


Dow Jones Industrial Average

increased 1.7% to 35,950.56; the


S&P 500

rose 2.3%, to a record 4,725.79; and the


Nasdaq composite

gained 3.2% to 15,653.37.

Living with Omicron

Best news on the Omicron front: While the variant has raced across the United States, two studies have suggested that Omicron may be less severe than Delta. Moderna said boosters to his vaccine increased the protection of antibodies against the variant by 37-fold, and the Food and Drug Administration cleared it for use.


Pfizer‘s
anti-Covid pill; Merck’s version was also licensed, but with restrictions. President Biden announced that 500 million home tests would be mailed to U.S. households and 1,000 military medics would be sent to help invade hospitals.

Manchin Talks

After months of talks, West Virginia Democratic Senator Joe Manchin has said he will not support President Biden’s roughly $ 2 trillion Build Back Better bill, sparking an angry Democratic backlash. Against the GOP’s united opposition, Manchin’s vote is needed to pass the bill, endangering much of the administration’s climate change and social policy agenda. Monday,


Goldman Sachs,
citing Manchin, cut his growth forecast for the first quarter of next year to 2% from 3%. On Monday evening, Manchin suggested that talks could continue.

The liquidity cure

China cut lending rates as economic growth slowed and Omicron emerged. Defaulting real estate groups Kaisa and China


Evergrande
the two continued restructuring talks, with companies targeted by government crackdowns laying off thousands of workers. In Turkey, President Recep Tayyip Erdogan has vowed to continue his policy of low interest rates, swearing that there will be no “turning back”. Business groups fell, the pound fell another 9%, then rebounded as Erdogan promised a savings protection plan.

Annals of negotiation

Bank of Montreal agreed to buy Bank of the West,


BNP Paribas
‘San Francisco-based banking unit, for $ 16.3 billion …


Oracle
said he was acquiring


To encircle
for $ 28.3 billion, his biggest contract ever. Oracle hopes to boost its cloud health business… Mortgage company Rocket has bought personal finance app TrueBill for $ 1.3 billion… Chinese artificial intelligence company SenseTime, blacklisted in the States United relaunches its IPO in Hong Kong with backing from nine public funds … Chinese social media giant Tencent distributes most of its 17% stake in online retailer


JD.com
to shareholders, some $ 16.4 billion …


AP Moller-Maersk
buys Asian freight management company LF Logistics for $ 3.6 billion.

Write to Connor Smith at [email protected]


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