AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading lower by 5.47% to $11.75 Monday morning after the company’s reverse stock split took effect on Thursday and amid Friday’s APE conversion.
At the close of trading on Friday, AMC recorded a weekly decline exceeding 60%. Notably, the stock commenced trading under a 10-to-1 reverse split arrangement as of Thursday’s market opening. The company’s AMC Preferred Equity Units, formerly traded as APE, underwent conversion into common stock on Friday.
Following the conversion, the total AMC share count rose from roughly 542.2 million to 550 million shares. AMC stock has also fallen roughly 85% over the past year, despite several records at the box office.
“Barbie” this summer posted a weekend box office debut of $155 million. “Oppenheimer,” which was released by Comcast Corp unit Universal, grossed $81 million in its opening weekend domestically…Read More
According to data from Benzinga Pro, AMC has a 52-week high of $107.50 and a 52-week low of $11.42.
