Shares of NVIDIA Corp. fell 2.77% as the stock market experienced a poor trading session, with the S&P 500 Index dropping 0.28% and the Dow Jones Industrial Average falling 0.51%.
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.
Investor sentiment towards AMC Entertainment has turned to panic as the stock sees a significant decline and faces competition from other stocks, leading to concerns about its future performance.
AMC Entertainment's stock dropped 21% ahead of its stock conversion, part of the company's efforts to eliminate debt and increase authorized common shares.
Disney's stock is on course to reach its lowest level since 2014, showing a significant drop in market capitalization since Bob Iger returned as CEO, while AMC's stock is falling as investors anticipate its stock conversion.
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.
Shares of Walt Disney fell 3.9% to their lowest level in almost nine years as investors anticipate further price drops and scrutinize the company's turnaround plan after the announcement of price hikes, more ads, and cost cuts to boost the business.
Shares of Cboe Global Markets Inc. fell by 0.12% as the stock market experienced an overall poor trading session, marking the stock's third consecutive day of losses.
Stock futures fell on Wednesday, with the S&P 500 and Dow Jones Industrial Average futures down 0.2% and 39 points respectively, following losses in the previous session, while Nasdaq-100 futures dropped 0.33%.
Manchester United's shares dropped over 18% after reports that the club's owners will take it off the market due to disappointing offers, resulting in a $700 million decrease in market value.
AMC Entertainment plans to sell 40 million new shares to raise funds, causing its stock to drop by 23%.
Shares of Netflix Inc. fell 0.65% on a rough trading session for the stock market.
Microsoft Corp. shares slipped 0.20% as the stock market experienced a rough trading session, with the S&P 500 and Dow Jones Industrial Average also falling.
C3.ai Inc. shares dropped 8% in after-hours trading following the release of quarterly results, despite the company's positive performance and CEO's statement on strong traction with enterprise AI applications.
Apple shares fell over 2.6% as China plans to extend a ban on iPhone use to state-owned corporations, while Dutch Bros dropped 6% after announcing a public offering of $300 million in shares, and Dave & Buster's shares fell over 3% due to weaker-than-expected earnings.
AMC stock hits a new low as meme trading loses its momentum and fails to improve the company's financial performance.
Charter Communications' stock has fallen during the dispute with Walt Disney, but one analyst believes it is a buy.
Oracle shares dropped by about 5% in extended trading after the company reported slightly lower-than-expected fiscal first-quarter revenue, although earnings per share were better than anticipated.
AMC stock rises 9% after the theater chain raises $325.5 million in equity capital, improving its cash reserves and addressing liquidity concerns.
Shares of AMC Entertainment rallied as the company completed an equity offering, raising $325.5 million to boost its cash reserves and fortify its balance sheet, giving the company flexibility to navigate the ongoing strikes and capitalize on opportunities.
Shares of Microsoft Corp. fell 2.50% as the stock market experienced a dismal trading session, ending its two-day winning streak.
Shares of Alphabet Inc. Cl A fell 0.51% as the stock market experienced a dismal trading session, although it outperformed some of its competitors.
Disney shares declined in early trading after the company announced plans to invest $60 billion in its theme parks over the next decade to further increase profitability and expand its reach to a large addressable market of individuals with "high Disney affinity" who have yet to visit the parks.
Shares of chip designer Arm Holdings fell 4% after an analyst expressed concerns about the company's future and emphasized the need for stronger earnings in Fiscal Year 2023, assigning a Hold rating on the stock with a price target of $50 per share.
Shares of Ford and Squarespace saw gains in midday trading, while Scholastic and Arm Holdings experienced losses, and Seagen reported positive results from a clinical trial for bladder cancer, and Deere shares fell after a downgrade, Chinese e-commerce stocks had gains following reports of the Chinese government considering loosening foreign investment rules, and Activision Blizzard shares increased after a new deal proposal from Microsoft cleared major antitrust concerns.
AMC Entertainment Holdings' estimated fair value is $8.58, which is 54% lower than its analyst price target of $18.78, indicating that the stock may be overvalued.
