Another Huge AMC Securities Investor Prepares Stock Sale. Shares Tumbled 11%. -- www.MalkamDior.com
AMC shares tumbled 11% on Monday and have fallen 55% since the beginning of the month.
The private equity firm
And the distressed debt investing firm
AMC investors have seen the company issued millions of shares in multiple capital raises since last year as it rushed to raise cash to hold off a bankruptcy.
The company announced in January that a bankruptcy was "completely off the table" after raising
The additional cash referenced in the January announcement will help keep the company afloat even with the ongoing business interruptions related to the pandemic.
Vaccines promise to help return life to somewhat normal -- and moviegoers to the theaters -- but even AMC says it can't predict the timing. "No one knows for sure the future course of this and other strains of the coronavirus, and therefore thoughts as to future cash needs of AMC are uncertain. Investors are cautioned accordingly," the January statement said.
Still, Robinhood's retail investing army put AMC in the middle of a trading frenzy in recent weeks pitting them against
Wanda, a conglomerate that owns everything from real estate to sports and entertainment companies, took a controlling stake in AMC in 2012. Other American holdings include production company