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
Could PEPE become the next Dogecoin?PEPE is following the path of Dogecoin, which it might replace at some level. With Elon Musk’s endorsement and the community’s support, PEPE is ready for the 2025 rally, which looks eerily similar to Dogecoin in 2021. Dogecoin was initiated in 2013 as a joke based on the “Doge” meme, which had a picture of […]
PEPE is following the path of Dogecoin, which it might replace at some level. With Elon Musk’s endorsement and the community’s support, PEPE is ready for the 2025 rally, which looks eerily similar to Dogecoin in 2021. Dogecoin was initiated in 2013 as a joke based on the “Doge” meme, which had a picture of […]
Ripple (XRP) Price Sees a Surge, Solana Targets $600 in 2025 as Investors Increase Focus on New AltcoinThe cryptocurrency market is showing renewed momentum as Ripple (XRP) experiences a significant price surge, and Solana (SOL) sets its sights on a bold $600 target by 2025. Meanwhile, a rising altcoin, Lightchain AI, is capturing investor attention with its innovative ecosystem and strong presale performance, making it a compelling choice for forward-looking investors. Ripple […]
The cryptocurrency market is showing renewed momentum as Ripple (XRP) experiences a significant price surge, and Solana (SOL) sets its sights on a bold $600 target by 2025. Meanwhile, a rising altcoin, Lightchain AI, is capturing investor attention with its innovative ecosystem and strong presale performance, making it a compelling choice for forward-looking investors. Ripple […]
Ripple's XRP declined 3% in the early trading hours on Friday as on-chain and technical indicators signify that bulls are losing steam.
The Australian Dollar (AUD) continues its upward momentum against the US Dollar (USD) for the third consecutive session on Friday.
Ethereum price is consolidating above the $3,180 support. ETH must clear the $3,350 resistance zone to start a fresh increase in the near term. Ethereum started a fresh increase from the $3,180
