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Why AMC Networks Stock Soared Today

TheMotleyFool

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Shares of AMC Networks (NASDAQ: AMCX) were jumping today after the company announced a management shuffle and a tender offer to buy back $250 million of stock at a price between $22.50 and $26.50.

After the stock closed at $20.77 yesterday, the tender offer was a clear sign that management values the company at more than that, and as a result, the stock was up 21% to $25.14 as of 11:31 a.m. EDT.

A scene from The Walking Dead Image source: AMC Networks.

Source Fool.com

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