Lions Gate Pops on Big Weekend for 'Hunger Games' (Update 1)
NEW YORK (TheStreet) -- Lions Gate Entertainment(LGF) shares rose 5.09% to $15.27 in early trading Monday after The Hunger Games made $155 million domestically its opening weekend.
|'The Hunger Games' helps Lions Gate shares rise on Monday.|
The Hunger Games' opening weekend is the third-best opening weekend for a movie to date and the highest revenue-making opening weekend for a non-sequel, according to The Associated Press.
The two movie openings that topped The Hunger Games were Harry Potter and the Deathly Hallows Part II and The Dark Knight, the AP reported.
"This is the birth of a franchise," head of Lions Gate Entertainment's(LGF) , David Spitz, told the AP. "To launch in this fashion is mindboggling."
The movie helped shares of the production company hit a 52-week high of $16.19 last Wednesday.
TheStreet Ratings gives Lions Gate Entertainment a C grade and a hold rating. The stock has risen 81.49% year to date.
Readers of TheStreet anticipated the movie would make more than $100 million its first weekend with 119 of the 143 poll voters estimating that amount. Some analysts estimated that the movie would make around $110 million its opening weekend.
What do you think of The Hunger Game's opening take? Tell us in the comment section below.
-- Written by Alexandra Zendrian
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