AMC Entertainment Stock Falls To Its Lowest Level Since January 2021 In Wake Of APE Lawsuit Ruling

Despite having new fundraising options in the wake of a judge’s ruling on Friday,started the week on a jarring note as its stock price skidded to its lowest level since January 2021.

The shares plummeted 35% on more than five times their normal trading volume, closing at $3.40. Investors pounced after a Delaware Chancery Court judgewith shareholders and ruled that the company can convert its “APE” equity shares into common shares. A group of retail investors had filed suit seeking to block the APE-to-equity conversion and a corresponding 1-for-10 reverse stock split, citing concerns about dilution.

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AMC stock sinks, preferred units climb after conversion settlementAMC Entertainment's shares slid 35% on Monday on fears that the approval of a revised stockholder settlement will allow the company to issue more shares to raise capital, a move that will dilute the worth of each common share.
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