AMC stocks fall 33% after filing second share issue in three days
AMC’s stock is worth $0 per share, given its weak earnings, dilution from recent stock offerings and mountain of debt, says investment analyst
03 June 2021 - 18:13
AMC Entertainment shares were down by a third on Thursday after the company took advantage of a record stock price with its second share issue in three days while saying it did not know how long its stellar run would last and warning investors of the risks involved.
AMC's shares traded 33.4% lower on Thursday at $41.10 after the company said it agreed to sell up to 11.55-million of its shares from time to time in an at-the-market programme. A wave of buying from retail investors had helped AMC’s share price nearly double to a record close of $62.55 in the prior session...
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