AMC rides stock roller-coaster after $587-mn share sale to cut debt load
AMC Entertainment Holdings Inc.’s wild ride shows no sign of stopping in a week that has seen the stock double and the company take advantage by selling shares to cut its huge debts.
The stock traded at $48.51 as of 4:02 a.m. in New York premarket trading, down 5.5% from its last close. That follows a day in which AMC’s eye-popping rally was interrupted by plans to sell more equity, with the stock closing down 18%.
It’s been quite a week for AMC, a company that’s become the king of meme stocks….
