Baxia Markets
May 19, 2021

Why Is AMAZON Up 2.93%?

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Allegedly Amazon is in discussions to acquire Metro Goldwyn Mayer movie studio commonly known as MGM, this could represent the biggest push into entertainment from the e-commerce and digital streaming giant. 


Amazon’s Long-time executive Jeff Blackburn is returning to the company after a brief departure to join Silicon Valley venture capital firm Bessemer Venture Partners. Blackburn will oversee Amazon’s entire entertainment division, including the Prime Video streaming service, Amazon Studios and the video-game-streaming site Twitch.


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It is said that MGM reportedly hired advisers to explore a sale last year, no comments have been released from either of the parts involved, and this could be merely speculative, however if we get more information or details in the upcoming days this could potentially spike Amazon's stock price.



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