AMC Movie Talk’ to Premiere S6
Retail traders’ darling has been hit hard by heavy selling pressure. Its CEO remains optimistic and even squared up to naysayers on X.
AMC stock $AMC Entertainment(AMC.US$ fell to its lowest-ever level of $5.58 after erasing nearly 9% of its worth on Wednesday. The movie-theater chain has struggled to pick itself up and rebound from heaps of heavy selling, underpinned by weak fundamentals and desperate company maneuvers.
Since its glorious meme-stock times, when it peaked at an all-time high of $307 a share, AMC has lost more than 98% of its valuation. Presently, its worth floats near the $1-billion threshold and investors are on edge whether the company won’t try another dangerous move.
In efforts to pay down a crushing debt load, AMC CEO Adam Aron had performed a stock swap, according to Dec. 28-29 filings. The company exchanged 3.25 million class A shares for $22.5 million. To top it off, Aron lashed out at “the prophets of doom” on X that were “certain the company would fail.” “We all know that YOU WERE WRONG. AMC is still here, still innovating, still blazing new trails,” he said on Dec. 31.% $AMC Entertainment(AMC.US$
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