AMC Stock Is Cratering: What's Going On?
Portfolio Pulse from Erica Kollmann
AMC Entertainment Holdings, Inc. (NYSE:AMC) shares are falling ahead of a 10-to-1 reverse stock split scheduled to take effect Thursday. AMC Preferred Equity Units (NYSE:APE) will be converted to AMC common stock the following day. The number of AMC shares will increase from approximately 542.2 million to 550 million shares following the reverse split and stock conversion. Citigroup analyst Jason Bazinet maintained AMC Entertainment Holdings with a Sell rating and lowered the price target from $1.65 to $1.55.
August 22, 2023 | 2:55 pm
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NEGATIVE IMPACT
AMC shares are falling ahead of a 10-to-1 reverse stock split and conversion of AMC Preferred Equity Units to AMC common stock. Citigroup analyst maintains AMC with a Sell rating and lowers price target.
The news of the reverse stock split and conversion of AMC Preferred Equity Units to AMC common stock, along with the lowered price target from Citigroup analyst, are likely to negatively impact AMC's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
AMC Preferred Equity Units (APE) are falling and will be converted to AMC common stock following the 10-to-1 reverse stock split of AMC.
The news of the conversion of AMC Preferred Equity Units (APE) to AMC common stock following the reverse stock split of AMC is likely to negatively impact APE's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80