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Summary
- AMC plans to sell 8.5 million shares to Mudrick Capital Management.
- GameStop plans to lease a 700,000 square feet facility for its fulfilment center in New York.
- Devon Energy had declared a dividend of about US$0.34 per share last month.
US stock markets made a positive start to the session on Wednesday, with broad gains across segments. Stocks of energy, online retail, and consumer segments were among the early gainers.
Investors exuded confidence in taking risks amid signs of a positive rebound of the US economy.
Here are some of the stocks that saw an early headstart to the session.
AMC Entertainment Holdings (NYSE:AMC)
The stock of the movie theatre chain was on a high after it announced to raise around US$230 million from equity sales to Mudrick Capital Management, L.P.
AMC plans to sell 8.5 million shares of its Class A common stock to Mudrick management. The AMC stock was up around 97% to US$63.37 at 2:36 pm ET on June 2 from the previous closing price.
Its market cap was around US$14.4 billion.
AMC has announced recently that its online Investor Connect platform would allow shareholders to identify themselves through the website and receive special offers and company updates. In addition, investors who sign up through the platform would also receive special offers at its movie halls this summer. The stock has gained around 473% over the past year.
Also Read: 2 Active Stocks On NYSE: AMC Entertainment, GameStop
GameStop Corp (NYSE:GME)
GameStop sells gaming products and services online. The stock was up around 11% to US$278.18 at 2:44 pm ET on June 2. The stock has gained about 1,430% over the past six months.
It has a market cap of around US$17.62 billion.
In May, the company had announced to expand its fulfilment network in North America. It also plans to lease around 700,000 square feet facility for its fulfilment center in New York as part of the drive.
Source: Pixabay.
Etsy Inc. (NASDAQ:ETSY)
The company operates online marketplaces to connect buyers and sellers from around the globe. The stock was up around 7.37% to US$175.51 at 2:49 pm ET on June 2 from the previous close. It rose more than 6% over the last six months. It has a market cap of around US$20.966 billion.
In its latest quarter, Etsy’s consolidated revenue was around US$550.6 million, up almost 141% from the same quarter last year.
Etsy had recently announced plans to acquire Depop, an online market platform, in a US$1.625 billion deal. Depop is known for its unique lifestyle and fashion products.
Also Read: 10 Hot Green Stocks To Explore This Summer
Devon Energy Corp. (NYSE:DVN)
Devon is one of the leading oil-and-gas producers in the US. It has a market cap of around US$20.89 billion. The stock was up 2.95% to US$31.09 at 2:57 pm ET on June 2. Shares of Devon Energy Corp gained around 109% over the past six months. Recently, the company celebrated its golden jubilee.
The board had declared a dividend of about US$0.34 per share for the first quarter, up around 13% from the fourth quarter of last year.
