AMC Entertainment Holdings, Inc. (NYSE:AMC) shares are trading lower Thursday. The stock began trading on a 10-to-1 reverse split basis at the market open.
What To Know:
In addition to the reverse split, AMC Preferred Equity Units (NYSE:APE) will be converted to AMC common on Friday, and the number of AMC shares will increase from approximately 542.2 million to 550 million shares following the reverse split and stock conversion.
Shares of AMC are falling on very heavy trading volume. According to Benzinga Pro, more than 10.57 million shares have already been traded in the session, compared to the stock’s 100-day average of 3.539 million shares.
AMC is, again, one of the top trending tickers on WallStreetBets.
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AMC Price Action: According to Benzinga Pro, shares of AMC are trading 26.1% lower at $14.48 at the time of publication.
Image: anncapictures from Pixabay
