AMC shares finally fall 18% after movie theater chain warned investors they could lose all their money - but other meme stocks continue to rise
Stock prices for the beleaguered theater chain had a volatile Thursday, dropping 40% before recovering and dropping again
Shares in the theater chain ended the day 18% down at $51.06
The influence of online investors remains felt, with the company telling potential buyers that they could lose all of their money
Still, AMC is taking advantage of its status as a so-called meme stock selling over half a billion dollars in new shares Thursday, and offering free popcorn
It comes as other firms such as legacy phone company Blackberry and cannabis Sundial Growers have seen similar investment patterns
Read more about AMC rides stock roller-coaster after $587-mn share sale to cut debt load on Business Standard. The stock traded at $48.51 as of 4:02 a.m. in New York premarket trading, down 5.5% from its last close.
AMC rides roller-coaster in wild week for new king of memes bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Even before Reddit day traders pushed AMC Entertainment Holdings Inc.’s stock up 1,400% this year, Jason Mudrick had been telling the company it should take advantage of the wild rally by selling stock to stay in business.Now Mudrick has helped AMC do just that, effectively bankrolling one of the company’s biggest equity sales by purchasing $230 million of shares and then promptly dumping them in the open market for a tidy profit. Meanwhile, his firm was telling clients it was