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Cinemark stock up nearly 11% after Morgan Stanley upgrade

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Yahoo Finance's Brian Cheung discusses Cinemark stock and why it's trending on Tuesday.

Video Transcript

BRIAN CHEUNG: I also want to highlight the meme stocks today while we're at it. We're taking a look at Cinemark right now. That is a theater-- actually, I'll show you all this on our meme stock board. If you take a look at an equal weighted version of the big meme stocks, you can see CNK-- and, Cinemark right here-- up almost 11%.

This is off of a very fun note from Morgan Stanley, and the headline is "Talk to Me, Goose," referencing "Top Gun."

AKIKO FUJITA: You love it. You love it.

BRIAN CHEUNG: I don't know if you want to jump in there, Akiko. But basically their thesis over Morgan Stanley is that consumers, studios coming back to theaters. They say Cinemark shares have not fully reflected that, at least as of earlier this morning. Young male audiences, they're highlighting specifically--

AKIKO FUJITA: You.

BRIAN CHEUNG: --the big drivers. Yeah. I'm a young male.

AKIKO FUJITA: You're a young male.

BRIAN CHEUNG: Although they said that the target movies were "Spider-Man, No Way Home" and "Minions, Rise of Gru."

AKIKO FUJITA: "Minions?" Is that the demographic for "Minions?"

BRIAN CHEUNG: This is interesting because there's been this trend on TikTok-- I don't know if you've seen it recently-- where dudes will just show up in full on suits, and they'll watch the movie like this. And then they shoot videos of it, and they post it on TikTok. It's a very weird thing, but apparently that's driving sales, so.