Aeromexico Tumbles to Near Zero as Meme Stock Faces Final Hour
- Window closed on voluntary tender offer for shareholders
- New structure expected to come into place on Thursday
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Grupo Aeromexico SAB’s shares fell near the lowest price on record as the company takes the final steps to emerge from Chapter 11.
The stock plunged 29% to 0.41 pesos Wednesday as the window closed on a voluntary tender offer that will substantially dilute existing shareholders. The price is expected to reach zero throughout the day.