AMC Stock Drops As Box Office Slump Prompts Potential $250 Million Share Sale

• AMC shares plummeted 15% on Thursday after the company said it may sell $250 million in stock to offset poor Q1 box office revenue
• AMC blamed disappointing ticket sales on last year's writers' and actors' strikes, which delayed major releases and shut down production • The company said it would use proceeds from the potential stock sale to improve liquidity, repay debt, and for general expenses • The 2024 box office is down 20% so far, with only a few titles like "Dune 2" and "Bob Marley" making decent money • Analysts expect the full year 2024 box office to bring in $8 billion to $8.5 billion, down from 2023's $9 billion