Skip to content
Subscriber Only

AMC Rides Stock Roller-Coaster After $587 Million Share Sale

  • Cinema chain raises money to cut debt load, fund turnaround
  • Investors use the moment to take profits after 3,000% gain
Bloomberg business news
AMC Looks to Issue 25 Million More Shares
Updated on

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%.