Motley Fool
AMC to Sell up to 11.5 Million Shares, Issues Warning to Investors
AMC Entertainment Holdings (NYSE: AMC) continues to exploit its meme stock designation by raising capital as its shares have risen exponentially on the backs of retail traders and others driving short-sellers out. AMC has embraced the frenzy, raising $230.5 million in a share sale earlier this week, and launching AMC Investor Connect yesterday, aiming to utilize the euphoria in the stock to help the business. The company also acknowledged the disconnect of the stock movement from the underlying business, noting that shares have “recently experienced, and may continue to experience, extreme volatility, which could cause purchasers of our Class A common stock to incur substantial losses.”
