It’s been a miserable 24 hours for AMC Entertainment.
Since yesterday at this time, the stock price has dropped 5 bucks to an all time low of $8.30.
On August 14th the price was $52.70. That day it dropped $18.
This is despite a booming summer with Barbenheimer– “Barbie” and “Oppenheimer.”
This is all despite their unique deal for Taylor Swift’s Eras Tour movie which is sold out and looks to make $100 million on its opening weekend.
The drop — to its lowest point ever — comes because AMC announced plans to sell up to 40 million common shares today. The company said it will use the proceeds in part to bolster liquidity and pay down debt.
