Amazon Buys MGM, Bank CEOs Testify Before Senate Banking, Meme Rally Resumes

Carl Quintanilla, Jim Cramer and David Faber begin the morning with breaking news, as Amazon buys MGM Studios for $8.45 billion. It’s Amazon’s most ambitious move into the entertainment business and its second-largest acquisition. Amazon paid $13.7 billion for Whole Goods back in 2017. Carl, Jim and David discuss the big rally in meme stocks, as GameStop & AMC surge. Plus, the most well-known CEOs on Wall Street prepare to testify before the Senate Banking Committee at 10am ET time.