AMC’s APEs trading below $1

AMC Entertainment Holdings Inc.’s
AMC,
-0.44%
AMC Preferred Equity Units
APE,
+0.71%,
or APEs, are trading below $1. The APEs ended Tuesday’s session down 6.5% at $0.8898, outpacing the S&P 500 Index’s
SPX,
+0.37%
decline of 1.4%. The APEs have fallen 85.2% since making their trading debut on Aug. 22, but rallied|https://www.marketwatch.com/story/amc-stock-spikes-up-in-volatile-trading-other-meme-stocks-also-rally-2022-12-01] last week as AMC shares spiked up in volatile trading. With its APE equity unit, AMC created something like a 2-for-1 stock split, marking the company’s latest effort in a fight over stock issuances. AMC is also taking aim at its massive debt burden with the ‘APE’ special dividend. The name is a nod to the investors who turned the company into a meme stock, who often refer to themselves as “apes” or “ape nation.”