AMC Entertainment Holdings Inc's shares are trading lower after Roth MKM analyst Eric Handler reiterated a Sell rating and a price target of 50 cents, citing an 'upside down capital structure'. Despite improving EBITDA, AMC continues to burn through cash and issue shares to maintain liquidity. Handler believes AMC's shares are trading at an irrational valuation and would need to generate $978 million of adjusted EBITDA to justify its current price. A 10-for-1 reverse stock split will go into effect on Aug. 25, increasing the total number of authorized shares of AMC's Class A common stock from approximately 524.2 million to 550 million.