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AMC falls after Cineworld's bankruptcy warning on day 'APE' starts trading

  • 📰 Reuters
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  • Publisher: 97%

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WATCH: After UK-based Cineworld warned of a possible bankruptcy, AMC Entertainment shares tumbled on the same day its preferred stock listing began trading

warning of a possible bankruptcy spooked investors on the same day the American cinema chain's preferred stock listing began trading.

"The issue is that the APE security is a dilutive security that should be viewed like a 2 for 1 split," said Thomas Hayes, chairman of Green Hill Capital. AMC is "pretending to give existing shareholders something of value, but in reality they are just paving the road for future dilution."

 

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AMC falls after Cineworld's bankruptcy warning on day 'APE' starts tradingAMC Entertainment Holdings' shares tumbled nearly 30% on Monday after UK-based Cineworld's warning of a possible bankruptcy spooked investors on the same day the American cinema chain's preferred stock listing began trading.
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