By Erich Schwartzel The nation s movie theaters are running out of movies. Some are turning to an unlikely source for more: Netflix Inc. With major Hollywood studios paring back their. | May 15, 2021
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(Bloomberg) AMC Entertainment Holdings Inc. rallied for a fifth straight day as retail investors flood chatrooms and social-media platforms trying again to pump up the movie theaterâs shares.
(Bloomberg) AMC Entertainment Holdings Inc. rallied for a fifth straight day as retail investors flood chatrooms and social-media platforms trying again to pump up the movie theaterâs shares.
#AMCSqueeze trended on Twitter, and Reddit users cheered each otherâs diamond hands for continuing to pile into the company, which, alongside GameStop Corp., became the face of meme stocks in January.
The Leawood, Kansas-based company spiked 24% to $12.77 on Thursday, after more than doubling gains even after AMC announced it had raised about $428 million by selling shares.
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Cinema operator AMC Entertainment Holdings Inc has raised about $428 million from a share sale, capitalizing on the retail-trading driven surge in its stock earlier this year.
The world’s largest cinema chain operator’s shares have gained more than five-folds in 2021 thanks to interest from amateur traders on Reddit that were piling into heavily shorted stocks such as GameStop Corp and AMC to punish hedge funds that bet against them.
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AMC said in a statement on Thursday it had sold 43 million shares at an average price of $9.94 apiece in the at-the-market offering, sending its stock nearly 16% higher.
Meme Traders Again Try to Push AMC Entertainment to the Moon yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.