“AMC stock sinks after company announces plans to sell up to 40 million shares”
September 7, 2023
“AMC (AMC) Entertainment stock tanked more than 20% on Wednesday morning after the cinema chain announced plans to sell up to 40 million shares. The company said it plans to use the proceeds “to bolster liquidity, to repay, refinance, redeem or repurchase its existing indebtedness,” and general corporate purposes…”
AMC is a meme stock so I’m sure day traders are loving this news right now.