AMC to issue preferred stock under the ticker symbol ‘APE’
You should consult your legal, tax, or financial advisors before making any financial decisions. This material is not intended as a recommendation, offer, or solicitation to purchase or sell securities, open a brokerage account, or engage in any investment ifc markets review strategy. As would be expected, AMC issued the new APE units in an effort to raise more money. The reason it didn’t just issue more common shares is that the company would have to get approval from its shareholders, which shareholders already shot down.
- The bulls argue that AMC’s capital restructuring moves have improved the company’s fundamentals and set the stage for growth.
- The move was intended to rally support from AMC’s meme investor base.
- Plans are created using defined, objective criteria based on generally accepted investment theory; they are not based on your needs or risk profile.
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Here’s how to buy AMC’s APE stock.
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AMC’s 1-For-10 Reverse Stock Split And APE Conversion Explained
Although these moves were part of AMC’s plan to avoid bankruptcy, investors have not responded well. AMC was trading in the $2 range before the split and went to about $16 just after the split. The stock price then dipped below $11 after the APE conversion.
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APE explained in brief
Here’s the rundown on a rival’s potential bankruptcy and how it could impact AMC in the long term. Going forward the APE units are not linked to AMC shares and can thus be bought and sold separately. Investors can choose to invest in AMC and/or APE shares and the two have already exhibited different trading patterns. Will AMC rise from debt-ridden meme stock to legitimate investment? Alicia Reese of Wedbush also sees upside, though not as much. She recently upgraded AMC from underperform to neutral and set a price target of $19.
Meet APE Stock – AMC’s dividend to all common shareholders
As for the industry, the summer movie season has been busy, but Hollywood writers and actors are on strike. The strike ensures a gap in content production, which will affect movie ticket sales in the months ahead. The bulls argue trade99 review that AMC’s capital restructuring moves have improved the company’s fundamentals and set the stage for growth. They also cite improving industry conditions, touting the summer box-office success of Barbie and Oppenheimer.