Updated: 11:08 AM CDT Jun 3, 2021 The Associated Press AMC may sell up to 11.6 million of its shares with a trading phenomenon pushing stock in the movie theater chain up almost 2,000% this year, and 140% just this week. AMC is emerging from pandemic lockdowns that threatened the very existence of the company. Industry analysts have yet to fully explain, or even comprehend, the extreme enthusiasm for its stock that being driven by large numbers of online traders who seem to disregard the rough path the company faces in its recovery. AMC acknowledged that phenomenon Thursday in a filing with the U.S. Securities and Exchange Commission when it announced the potential sale of shares “from time to time.”“We believe that the recent volatility and our current market prices reflect market and trading dynamics unrelated to our underlying business, or macro or industry fundamentals, and we do not know how long these dynamics will last, AMC said in the filing.
By Maggie Fitzgerald, CNBC •
Updated 1 hour ago
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AMC Entertainment AMC Entertainment was on the move again after a volatile trading session. Shares fell 7% after hours after closing down nearly 18% in the regular session. The movie theater operator said Thursday morning it was going to sell 11.5 million shares only to announce several hours later it already completed its stock offering, raising $587.4 million in additional capital.
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CrowdStrike Shares of the cybersecurity technology company gained nearly 1% in extended trading on Thursday after reporting better-than-expected earnings. CrowdStrike earned 10 cents per share, higher than the expected 6 cents per share, according to Refinitiv. Revenue came in at $302.8 million, higher than the expected $291.4 million.