AMC Entertainment Sets Plan To Sell 11.6M Shares; Red-Hot Stock Cools In Early Trading

, which has been surfing a wave of retail enthusiasm over its meme-worthy stock, has decided to cash in and sell 11.6 million shares.

There are now about 3 million retail investors in AMC — about 80% of its shareholders — after investors mobilized on Reddit and other online forums. The company’s stock followed the improbable trajectory of GameStop and other companies whose shares are moving in inverse proportion to their financials. On Wednesday, regulators halted trading twice on AMC as it spiraled upward.

Earlier this week, the company sold 8.5 million shares to investment firm Mudrick Capital, which turned around and sold the $230 million position the same day. While the whipsaw action

Key point 'Warning to investors has cautioned “against investing” in its common stock, unless investors “are prepared to incur the risk of losing all or a substantial portion” or their money'

Fud this was in April

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