AMC Stock Settles with 20% Loss as Company Sells Off 11.55M Shares, Now Down 7%
6 hours ago by Benjamin Godfrey · 3 min read
Photo: Depositphotos
You have successfully joined our subscriber list.
AMC has become the new favorite after GameStop as both shares and other heavily shorted stocks have been pushed to new highs this year.
The shares of American theatre company AMC Entertainment Holdings Inc (NYSE: AMC) closed the Thursday trading session at a 20.40% loss following highly volatile intra-day activities. Per a CNBC report, the down plunge came after the company said it had sold as much as 11.55 million shares at an average price of approximately $50.85 per share in an at-the-market equity program launched earlier on Thursday. The company raised as much as $587.4 million, boosting its capital accrual agenda.
(Bloomberg) The latest meme stock frenzy started to unwind Thursday as retail-trader favorites like Bed Bath & Beyond Inc. and Koss Corp. tumbled after surging in the previous session.Bed Bath & Beyond shares fell 28%, the steepest selloff since January, after notching a record advance Wednesday. Koss slid 24% in the biggest drop in four months. Other so-called meme stocks including GameStop Corp. and PetMed Express Inc. also declined Thursday.This comes as some retail investor favorites anno