AMC Shares Tank On APE Conversion Plans: Analysts, Jim Cramer And More Say It's 'A Clearer Path For AMC To Survive'

Benzinga · Aug 14, 2023 12:21

Shares of leading movie theater chainAMC Entertainment Holdings Inc(NYSE:AMC) are spiraling down Monday after the latest company update on its stock conversion plan.

While shares of AMC Entertainment are falling, its preferred units traded asAMC Preferred Equity Units(NYSE:APE) are trading higher.

Here's a look at what an analyst and several television hosts are saying about the latest company update.

What Happened:On Friday, the court approved a revised stock conversion plan for AMC Entertainment. The revised plan will see a one-for-ten reverse stock split and the conversion of APE units into...

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AMC Shares Tank On APE Conversion Plans: Analysts, Jim Cramer And More Say It's 'A Clearer Path For AMC To Survive'

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