AMC Stock Plummets on Cineworld Bankruptcy Option, APE Dilution

AMC Entertainment  (AMC)  shares plunged lower Monday after the movie theatre chain’s largest rival, Cineworld, confirmed it’s considering a Chapter 11 bankruptcy filing in the United States.

U.K.-based Cineworld, which owns Regal cinemas in the U.S., hit a record low on Friday after the Wall Street Journal reported the Chapter 11 option, which the group said Monday is one of its options as it looks to reduce debts accumulated during the pandemic and its failed takeover of Canada-based Cineplex.

Source: https://www.thestreet.com/markets/amc-stock-plummets-on-cineworld-bankruptcy-option-ape-dilution?puc=yahoo&cm_ven=YAHOO&yptr=yahoo