AMC shares crater as investors brace for stock conversion
AMC Entertainment shares plummeted more than 20% on Tuesday, slipping to a new 52-week low of $2.46 per share.
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. $AMC Entertainment (AMC.US)$ $AMC Preferred Equity Unit (APE.US)$
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NewtonOj : Shilly
Domingo Friggin Ramirez : ppl aren't selling.
this is illegal shorting.
lucus93 Domingo Friggin Ramirez : How to say