AMC Networks Is Buying Back 20% of Its Stock. Should You Follow?
Legacy cable companies are among the cheapest in today's market. People are abandoning the legacy cable bundle in droves. In 2013, there were over 100.5 million cable bundle subscribers. By 2023, research firm eMarketer expects that number to fall to just 72.7 million.
With declining numbers, investors have been selling off legacy cable network companies that may not have the scale to compete in the streaming world. But has the hate gone too far?
Cable network AMC Networks (NASDAQ: AMCX) -- the channel that brought you The Walking Dead, Mad Men, Breaking Bad, and Killing Eve -- thinks so. It's putting its money where its mouth is in a massive buyback. Should you follow management and gobble up some shares, which are down 47% on the year?
Source Fool.com
