Wednesday, May 29, 2024

LionsGate Stock: Bottom Drops Out as Price Drops $7, 28%, Reaches New Low

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What the heck as happened to Lions Gate? Their sudden stock drop can’t just be because the publicists don’t return phone calls.

Today LGF dropped 28%, hitting a new low of $16.21 and then finishing at $18.18. That’s more than $7 drop since yesterday.

Three months ago, LGF was at $41.07. Again, $41.07 and now $18.18.

What’s the problem? There are no movies. The “Twilight” and “Hunger Games” phase is over. Their current films in release are actually reviled: “Dirty Grandpa,” unwatchable crap, and “Norm of the North.”

Their one prestige hit for 2015, “Sicario,” couldn’t cross the $47 million line. Amazing. It had great reviews, and some awards buzz. But you never (at least I never) heard a word from LionsGate. It’s as if they don’t exist. But look, Focus Features just fired all their top execs after “The Danish Girl” tanked. Again, they were like a ghost studio to me. But Focus has Universal to protect them.

Stay tuned for the LGF soap opera to unfold…

 

Roger Friedman
Roger Friedmanhttps://www.showbiz411.com
Roger Friedman began his Showbiz411 column in April 2009 after 10 years with Fox News, where he created the Fox411 column. His movie reviews are carried by Rotten Tomatoes, and he is a member of both the movie and TV branches of the Critics Choice Awards. His articles have appeared in dozens of publications over the years including New York Magazine, where he wrote the Intelligencer column in the mid 90s and covered the OJ Simpson trial, and Fox News (when it wasn't so crazy) where he covered Michael Jackson. He is also the writer and co-producer of "Only the Strong Survive," a selection of the Cannes, Sundance, and Telluride Film festivals, directed by DA Pennebaker and Chris Hegedus.
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