AMC Entertainment spiked as much as 56% Monday after The Daily Mail reported that Amazon is eyeing a takeover of the movie theater chain. The company raised $500 million in debt in mid-April to help boost its cash balance and ride out the current period of lockdown orders.
If the reports are accurate, the move would represent a strategic shift for Amazon as it continues to expand its physical brick-and-mortar foot print and boost its Hollywood exposure.
