Lionsgate Stock Hits New All-Time High on NYSE
Investors buy up shares in the mini-studio as it rolls out young-adult tentpole movies like the "Hunger Games" franchise and "Divergent."
TORONTO – A week ahead of its latest financial results, stock in Lionsgate on Friday hit another all-time high.
As investors anticipate more young-adult tentpole movie profits, shares in the mini-studio rose sharply in morning trading to reach $33.72 on the New York Stock Exchange, up 43 cents or just over 1 percent, on an average volume of 1.38 million shares.
Lionsgate, which has a market cap of $4.58 billion, has seen its shares rise sharply in the past year on its movie pipeline, which includes the Twilight and Hunger Games franchises, and the upcoming Divergent release.
Lionsgate’s stock began its meteoric rise in October 2011 after senior management at the Vancouver-based company fended off billionaire investor Carl Icahn.
The Vancouver-based company will release its latest financial results Aug. 8.