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AMC shares crash: Are you ready for stock conversion?
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💡Summary: • AMC Entertainment's shares % chg decreased by 18.27% to $2.55 as of Aug 22, 2023. • On Friday, the movie theater chain's Show More
💡Summary:
• AMC Entertainment's shares % chg decreased by 18.27% to $2.55 as of Aug 22, 2023.
• On Friday, the movie theater chain's preferred equity units, dubbed APE shares, are set to be transformed into common stock just one year after they began trading on the New York Stock Exchange.
• AMC also is planning a 10-to-1 reverse stock split of its common stock on Thursday.

In a Form 8-K filed with the SEC last week, AMC($AMC Entertainment (AMC.US)$) explained that the reverse stock split is expected to occur on Aug. 24, which is also the record date set for a litigation-settlement payment as of the close of business that day. Conversion of APEs into AMC common stock is expected to occur on Aug. 25, with the APEs ceasing trading that day and subsequently being delisted from the New York Stock Exchange. The company’s authorized share count will increase to 550 million from a prior post-reverse split count of 52.5 million, allowing AMC to issue more than 390 million shares.

The APE($AMC Preferred Equity Unit (APE.US)$) units fell 11.32% Tuesday. The APE name is a nod to the investors who turned the company into a meme stock, who often refer to themselves as "apes" or "ape nation." AMC is now competing with stocks such as Tupperware Brands Corp.$Tupperware Brands (TUP.US)$, -12.03%, WeWork Inc.$WeWork (WE.US)$, -3.06%, and Nvidia Corp.$NVIDIA (NVDA.US)$, -2.77%, for investor attention, according to Tranfo.

🎙️Q:
1. What stock had the highest FTD's in the history of the stock market?
2. Is AMC stock a buy or sell now?

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