Weekly Financial Wrap: AMC Stock, Small Business Employees, and Biden's Tax Plan

AMC Collects $587 Million in Sell-Off

AMC Entertainment Holdings Inc. has continued to make headlines after staying in the news all spring. AMC was able to sell off a large number of shares after seeing a surge in price, collecting $587 million on the sale.

Surge Due to Repeated Media Coverage

This surge is the result of this stock becoming the focus of retail investors around the world, especially those on the Reddit Group “Wall Street Bets.” If you plan on purchasing any AMC shares, be warned that it is highly volatile.

SA will discuss this more on Sunday’s edition.

U.S. Small Businesses Can’t Fill Job Openings

Small businesses across the country are reporting job openings that have yet to be filled. The National Federation of Independent Business reports that in May, 48 percent of small business owners in the United States have unfulfilled job openings.

This number is an increase from April, which saw 44 percent of small businesses report having unfulfilled openings. As a result, many small business owners have begun offering higher wages in an effort to attract new workers. If you are looking for full-time or even temporary employment, now is a great time to find a job at a small business close to you.

Coal Faces Global Spike in Demand, Leading to Higher Prices

While coal is seen as an environmentally damaging resource, its demand is starting to see global increases. Many prominent coal miners across the globe are currently dealing with production issues — further fueling the renewed demand the resource has received.

Safety-Related Setbacks

Unsafe work practices resulting in deadly mining accidents in Beijing have contributed to lower coal output and a spike in demand. The wise move would be to observe the surge and see how it is predicted to last before making any investments. “This is a bad spike to invest into. Mid-term fundamentals are still bearish,” James Stevenson, lead researcher for coal, metals, and mining at IHS Markit Ltd. in Houston, said.

President Biden’s New 15 Percent Minimum Tax Proposal Is a Step in the Right Direction

President Joe Biden recently announced his decision to go back on his proposed plan to enforce a 28 percent corporate tax hike. He will now look to set a minimum tax rate at 15 percent for companies.

The move comes as a result of Biden looking to compromise with the Republican party in an effort to move his infrastructure and tax plan through Congress. Investors across the country have praised the move, saying that it will help boost the market.

The originally proposed 28 percent corporate tax hike would be harmful to the market as it would cut the profits of companies across the country.

Unvaccinated Workers Plan to Take Employers to Court

While many Americans across the country have been vaccinated, those who have not are facing problems at work. As more media outlets report on workplaces letting go of their employees who refuse to take the vaccine, fired employees have threatened to sue their former employers.

The said employees have stated that they have no way of knowing if the vaccine is truly safe. They say that their employer has no legal right to fire them due to their resistance to the vaccine.

Opposers of the Lawsuit

Those critical of the lawsuit say that employees who refuse to receive the vaccine are foolishly endangering those around them. Time will tell which party is legally in the right.

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