Meme stock AMC down after deal with Goldman to sell up to 50 mln shares
Source Investing
Investing.com -- AMC Entertainment Holdings Inc (NYSE:AMC) shares slumped 10% at $4.7 on Friday after movie theatre chain entered an agreement with Goldman Sachs Group (NYSE:GS) to sell 50 million shares of Class A common stock.
The agreement will allow AMC to issue and sell shares through Goldman Sachs, which will act as a sales agent or principal buyer.
AMC said it plans to use proceeds from the stock sale to strengthen its balance sheet with increased liquidity, and lowering its debt.
The company also intends to invest in its "AMC GO Plan," which focuses on improving the movie-going experience with upgrades to seating, sound systems, and premium large format screens
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
On April 23, Eastern Time, Intel (INTC) reported its latest quarterly earnings results, showing that revenue grew 7% to $13.6 billion and earnings per share was $0.29, beating expectation
Gold price (XAU/USD) falls to around $4,690 during the early Asian session on Friday. The precious metal attracts some sellers amid a stronger US Dollar (USD) and elevated oil prices that stoked inflation worries.
Silver Price Forecast: XAG/USD plummets below $76 as oil price posts fresh weekly highSilver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
Silver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – fades an Asian session spike to the $95.80-$95.85 area, or a one-and-a-half-week top, and retreats to the lower end of its daily range in the last hour.
JPMorgan Chase has raised its year-end target for the S&P 500, noting that the core driver is not a simple recovery in sentiment, but rather upward earnings revisions for AI-related techn
