AMC Stock Sinks Further After Closing at Record Low

By Jack Pitcher, Reporter

Updated 5 hours ago

AMC Entertainment shares were down around 7% in afternoon trading, falling further after closing at a record low Wednesday.

Announcement of Share Sale

The movie theater chain announced plans to sell up to 40 million common shares on Wednesday.

Stock Plummets

Following the announcement, AMC’s stock sank 37%.

Utilizing Proceeds

The company stated that it will use the proceeds from the share sale to bolster liquidity and pay down debt.