AMC stock extends slide in active trading, while APEs keep soaring

Shares of AMC Entertainment Holdings Inc.
AMC,
-10.59%
slumped 5.3% in premarket trading Friday, to extend their selloff in the wake of the movie theater operator’s announcement the previous session of another stock sale and proposed reverse stock split. Trading volume was 1.8 million shares, which already topping the full-day average of about 1.7 million shares. On Thursday, the “meme” stock had plummeted as much as 22.5% to an intraday low of $4.11 before bouncing to close down 7.4%. Meanwhile, AMC’s preferred equity units, known as APEs
APE,
+48.27%,
soared 42.5% on volume of 22.4 million shares ahead of Friday’s open, after rocketing on Thursday as much as 100% to an intraday high of $1.38 before closing up just 75.2%. AMC’s stock has dropped 38.6% over the past three months through Thursday and the APEs have tumbled 66.5%, while the S&P 500
SPX,
+0.46%
has gained 3.5%.