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AMC Preferred Stock Starts Trading in Middle of Meme Volatility

  • Movie theater’s preferred stock made debut via ‘APE’ ticker
  • AMC shareholders sitting on some losses since Friday’s close
Bloomberg business news
Revenge Of The Meme Stocks
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AMC Entertainment Holdings Inc.’s preferred stock made its debut Monday amid a selloff in other meme stocks and the broader market, making for a volatile day.

AMC investors that held onto both classes of shares are sitting on a loss since Friday’s close: an investor who ended last week with one share of common stock priced at $18.02 now has that share -- which last changed hands around $10.46 -- plus one share of preferred at $6. Total value: $16.46.