The stock closed at an all-time high of $62.55 per share, nearly double Tuesday’s closing price. Its previous closing record had been $35.86, which was set on March 23, 2015, according to FactSet data.

@cashaeleatemla

3 жыл бұрын

At one point, AMC’s stock spiked as high as $72.62, far above its previous intraday high of $36.72, which occurred on Frida

@cashaeleatemla

3 жыл бұрын

As retail traders have rallied around AMC, the movie theater chain has returned the favor.

@cashaeleatemla

3 жыл бұрын

The manic activity comes despite a report that a hedge fund had sold its stake in the movie theater company. On Tuesday, AMC reported it had sold 8.5 million newly issued shares to Mudrick Capital, the latest in a series of capital raises for the company, a favorite of Reddit traders. The company raised $230.5 million through the sale, and said it could use the funds to make acquisitions, upgrade its theaters and deleverage its balance sheet.

@cashaeleatemla

3 жыл бұрын

Typically, such a sale would prompt a sell-off because the newly issued shares dilute the value of the existing stock. Instead the stock climbed higher.

@melodythemassagetherapist6957

3 жыл бұрын

@@cashaeleatemla you are AWESOME!!! So cool that you do so much research!! Have a happy rest of your week! Is Jake telling us he’s a millionaire? Hahaha just kidding! But so cool if he makes a mint!!! 😉

Robin Hood in the 21 century

@cashaeleatemla

3 жыл бұрын

😃 yep, i think AMC trading frenzy doubles stock price as movie chain further embraces its retail investors

@bluecollarmenproductions

3 жыл бұрын

Yes

🐸

@macpayne4710

3 жыл бұрын

🐸

@bluecollarmenproductions

2 жыл бұрын

🐸