Shares in the US cinema chain AMC surged on Wednesday in what could mark a return to frenzied trading that rocked markets earlier this year.Trading in AMC Entertainment was halted briefly several times as high volumes of shares were bought and sold.AMC stock climbed as much as 100%, peaking at $69.09 part-way through the day. The firm promised … [Read more...]
AMC cinema chain issues warning to small investors
US cinema chain AMC has put out a blunt warning to smaller investors as it launched a new share sale.It warned against buying "unless you are prepared to incur the risk of losing all or a substantial portion of your investment." Source: AMC cinema chain issues warning to small investors - BBC News … [Read more...]
AMC brings nine-screen luxury cinema to Jeddah
In a first for AMC Cinemas in Saudi Arabia's west coast city, the new cinema offers eight luxury auditoriums and an IMAX theatre. Source: AMC brings nine-screen luxury cinema to Jeddah - BroadcastPro ME … [Read more...]
AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain
Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency. Wanda, which bought AMC in 2012 for $2.6 billion, cut its stake … [Read more...]
Trading frenzy in AMC stock may stave off bankruptcy but cinema operator still faces years of recovery
AMC stock soared 250% on volume over more than 1 billion shares on Wednesday. The trading frenzy that has propelled the shares of AMC Entertainment Corp. up more than 600% in the year to date may have saved the cinema operator from bankruptcy but the company is still facing formidable challenges after being hammered by the coronavirus … [Read more...]
AMC hopes to raise $125 million in fresh funding round as it fights bankruptcy
Movie theater chain AMC is hoping to raise $125 million in fresh capital to stave off bankruptcy by selling 50 million shares in a new funding round, the company said Wednesday. The largest cinema chain in the world raised $104 million earlier this month after selling roughly 38 million of 200 million in available shares. The company is trying … [Read more...]
