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