AMC Stock Conversion to Happen Today. What to Expect.
AMC Entertainment Holdings will convert its preferred equity units to common stock during Friday morning’s opening bell, a move traders have been anticipating all week.
Topics
Posted 8/25/2023, 5:00:00 AM
barrons.com
Relevant topic timeline:
AMC Entertainment Holdings shares are falling ahead of a reverse stock split, causing the number of shares to increase, and the stock conversion is being done to strengthen the company's financial position and pursue growth opportunities.
AMC Entertainment Holdings, a unique movie theater chain, has garnered more attention for its stock and APE shares than for the films it screens.
AMC Entertainment Holdings stock surges ahead of the APE conversion and receives an upgrade from Wedbush analysts.
AMC Entertainment's stock and its Preferred Equity unit (APE) took hits, with AMC sliding nearly 27% and APE losing almost 20% in Thursday's trading, as AMC engaged in a 1-for-10 reverse stock split and the APE unit is set to be incorporated into the AMC stock; despite this, Antara Capital's sale of AMC suggests that it no longer regards the company as a distressed asset.
AMC Entertainment Holdings Inc. saw a 2% rise in premarket trades amidst its reverse stock split and conversion of AMC Preferred Equity unit stock.