AMC Entertainment Holdings, Inc(NYSE:AMC) was trading about 8% higher Tuesday after a massively bearish day on Monday caused the stock to plunge about 15%.
The company announced a plan to sell up to 425 millionAMC Preferred Equity Units(NYSE:APE), which pressured both AMC and APE lower. Through the equity distribution agreement, AMC may repay, refinance, redeem or repurchase debt it has incurred in order to meet its financial goals.
The higher open, which set AMC into the middle of Monday's trading range, caused an inside bar to form on the stock's chart.
An inside bar pattern indicates...
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