1
AMC Entertainment Stock (NYSE: AMC) fell 23% in the previous session.
2
APE stock fell 8% before conversion into AMC stock.
3
Reverse AMC stock split into the ratio of 1:10.
AMC Entertainment stock (NYSE: AMC) fell 23% in the previous trading session ahead of the APE stock conversion. The motive of the AMC preferred equity (APE) conversion is to eliminate the ongoing battle of debt.
AMC stock will continue to trade in the market after conversion but trading in APE shares will be halted.
The conversion of APE shares into AMC common stock will be held on August 25, 2023. After the conversion, APE stock will get delisted from the New York Stock Exchange.
Meanwhile, AMC Entertainment Holdings, Inc. (NYSE: AMC) also completed the reverse stock split in a ratio of 1:10. As a result, the prices were expected to rise but sadly the AMC shares reacted negatively and hit a new low.
However, after the completion of the conversion, AMC share
We współpracy z: https://www.thecoinrepublic.com/2023/08/24/amc-entertainment-ape-stock-conversion-backfires-amc-stock/
