Lions Gate Roars On Wall Street
Shares in Lions Gate Entertainment continued to rise on the Nasdaq today (Wednesday), two days ahead of the opening of Hunger Games , which several analysts are predicting will top $100 million in its opening weekend and perhaps even set a new box-office record. (The current record is held by Harry Potter and the Deathly Hallows Part 2 with$169.2 million, followed by 2008's The Dark Knight with $158.4 million and 2007's Spider-Man 3 with $151.1 million). On Monday Lionsgate said that more than one million tickets had already been purchased online at sites like Fandango.com and MovieTickets.com. At mid-day in New York, shares in the "mini-major" were up 3 percent to $15.75. Last May they were trading at $5.76; they have risen nearly 30 percent over the last 30 days. During the previous months value of the shares had been hinged to whatever price corporate take-over wizard Carl Icahn was offering to take control of the company.