AMC investors will go APE, company announces

Image: The Verge

AMC, the theater chain with the pantless CEO, has leaned all the way in on meme stock. Hordes of retail investors may have saved AMC. AMC hopes to use them again to create more shares.

The AMC preferred equity units will be traded on the New York Stock Exchange. One of these babies can be converted to common stock if the company and investors vote in favor of that.

It's sort of sticky. AMC wanted to sell more shares, but investors turned them down. AMC sold a lot of shares during the H1N1 epidemic. Something else may have been at play. The solution isn't just a marketing ploy. The investors voted against more shares. AMC is able to sell 4.5 billion units after giving 500 million shares to investors.

The news was made public. Market shares plunged almost 8 percent to $17.16 at 5PM after AMC shares closed at $18.66, suggesting investors are not excited about the plan. Maybe they didn't like the company's earnings numbers because AMC revenue hasn't recovered from the Pandemic

Correct number of APE shares that will be given to current AMC investors We apologize for the mistake.