Mattel Gains Over 2% - What's Going On?
Portfolio Pulse from Nabaparna Bhattacharya
Mattel, Inc. (NASDAQ:MAT) shares rose over 2% after the company announced plans to develop a feature-length film based on the children's series Bob the Builder. The film will be developed in collaboration with ShadowMachine, Nuyorican Productions, and Anthony Ramos. This follows the success of the 'Barbie' movie, which grossed over $1.4 billion. Mattel acquired Hit, owner of Bob the Builder, in 2011 for $680 million. MAT shares were trading at $18.52, up by 2.32%.
January 26, 2024 | 6:32 pm
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POSITIVE IMPACT
Mattel's announcement of a Bob the Builder film has positively impacted its stock, with shares rising over 2%. The success of the 'Barbie' movie suggests potential for this new project.
The positive stock movement for Mattel is likely due to investor optimism following the announcement of the Bob the Builder film, especially considering the financial success of the 'Barbie' movie. The acquisition of Hit and its properties in 2011 underlines Mattel's strategic content expansion, which could further drive investor interest and stock performance in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100