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Thinking About Buying Stock In BP, AMC Or Palantir?

February 23, 2021 9:11 am
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Thinking About Buying Stock In BP, AMC Or Palantir?

One of the most common questions traders have about stocks is “Why Is It Moving?”

That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why that stock is moving. 

Here’s why shares of BP, AMC, and Palantir are moving.

Shares of BP plc (NYSE:BP) are trading higher after Goldman Sachs reportedly projected further upside in oil prices. Additionally, severe weather in Texas continues to impact production, which has lowered the supply of oil.

Shares of AMC Entertainment Holdings Inc (NYSE:AMC) are trading higher after the company announced it will reopen all 13 theatres in New York City on March 5. The rally came after Governor Andrew Cuomo announced theaters in NYC and across New York state are permitted to re-open next month.

"Since reopening our first theatres with AMC Safe & Clean in August, AMC has welcomed back nearly 10 million moviegoers nationwide without a single reported case of COVID-19 transmission among moviegoers at our theatres," CEO and President Adam Aron said in a press release. "We look forward to welcoming back our New York City guests to the big seats, big sounds and big screens that are only possible at a movie theatre."

See Also: How To Buy AMC Stock

Shares of Palantir Technologies Inc (NYSE:PLTR) are trading lower after co-founder Stephen Cohen filed share sales revealing he disposed of 3.8 million worth of shares between Feb. 18 and Feb. 22.

Palantir also announced a multi-million dollar expansion of its relationship with 3M Co (NYSE:MMM). According to the press release, 3M has chosen to expand its use of Palantir's Foundry platform to support its digital transformation. 

See Also: How To Buy Palantir Stock

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