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AMC Entertainment ( AMC) is cashing in on the revival of the meme stock trade. The struggling theater chain raised $250 million of "new equity capital" through the sale of 72.5 million shares on ...
A screen displays the logo and trading information for AMC on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 29, 2022.
Cinema chain AMC dropped 7.7%, after rising 135% in the past two sessions, while video game retailer GameStop fell 10% after hitting its highest level since June 2021 on Tuesday.
AMC stock gained 19% to $22.18 at the close on Friday after initially falling following the announcement of the new units on Thursday. The preferred shares started trading under the "APE" ticker on the New York Stock Exchange starting Aug. 22. AMC CEO Adam Aron stated "We are making great strides on our path towards pandemic recovery".
Short-sellers aim to turn profits on a stock by borrowing shares, selling them and returning them after purchasing them at a lower price. Shares of AMC Entertainment, another meme stock, popped 78 ...
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The rise in GameStop was also accompanied by a spike in AMC stock. Shares of the theater chain operator rose about 30% after gaining as much as 120% earlier on Tuesday.
A frenzy of buying of AMC Entertainment stock triggered several trading halts Wednesday, with meme-stock traders fueling a surge of more than 100 percent. ... AMC’s price peaked as high as $72. ...