Lionsgate Stock Hits 52-Week High After Jennifer Lawrence’s Oscar Win
Shares in the mini-studio jumped on the NYSE after “The Hunger Games” star won best actress at the Academy Awards Sunday night.
TORONTO –The stock of Lionsgate hit a 52-week high Monday morning amid gains for all major U.S. stock market indexes.
Related Topics•Oscars 2013
The gain came after Jennifer Lawrence won the best actress crown at the Academy Awards on Sunday night. She won for her role in Silver Linings Playbook, but she also has the hero role as Katniss Everdeen in Lionsgate's Hunger Games franchise.
The stock of the mini-studio climbed 25 cents at the opening Monday morning on the New York Stock Exchange to $20.99, a 52-week high well above its 52-week low of $11.26.
Investors have been looking for a strong performance from the upcoming Hunger Games sequel, and Lawrence's added exposure and Oscar win could possibly further support audience interest.
Matt Harrigan, an analyst with Wunderlich Securities, said the Hunger Games sequel is already "hard-wired" for box office success without Lawrence's Silver Linings achievement.
But Harrigan added Lawrence's Oscar stardust underlines Lionsgate's ability to spot "more affordable (at the time!) talent and ability to manage budget template on projects."