AMC’s APE Shares Offer Meme-Stock Arbitrage Payday

As the drama surrounding at

AMC Entertainment

unfolds, an attractive trading opportunity is coming into focus. Arbitragers should be going ape for APEs.

Late Monday, AMC (ticker: AMC) disclosed terms of a settlement with plaintiffs who had sued the company over a plan that would allow it to issue more stock, paving the way for it to raise capital, and convert its AMC Preferred Equity, or APE, units into common stock.