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“AMC shares tank more than 30% as Regal Cinemas owner warns of potential bankruptcy”

“Shares of theater chain and meme trader favorite AMC fell sharply on Monday as the struggles of a rival company appeared to weigh on the stock.

AMC was down more than 30% in premarket trading, building on a loss of more than 26% last week. The drop comes as rival Cineworld said on Monday it is considering filing bankruptcy…

AMC reported more than $5 billion in long-term debt at the end of the second quarter. That total climbs to more than $10 billion when including lease obligations and other long-term liabilities…”

https://www.cnbc.com/2022/08/22/amc-shares-tank-more-than-30percent-as-regal-cinemas-owner-warns-of-potential-bankruptcy.html

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