AMC Shares Are Trading Higher: What You Need To Know

AMC Entertainment Holdings Inc. AMC has been experiencing notable movement in its stock price recently. The stock has been volatile following the company’s recent shareholder meeting.

Recent Developments: AMC Entertainment is currently engaged in confidential discussions with lenders regarding potential debt reduction and extending near-term maturities. As reported by Bloomberg, these negotiations aim to address AMC’s substantial debt obligations, with over $2.8 billion in maturities due by 2026 as of March 31.

The company has capitalized on renewed interest in meme stocks, facilitated by figures like Keith Gill, to issue stock in exchange for notes. AMC also recently completed a capital raise of approximately $250 million through the sale of 72.5 million shares.

In addition to financial maneuvers, AMC’s operational highlights include robust attendance during the June 13-16 weekend, marking its highest attendance and admissions revenue of the year.

What Else: AMC Entertainment reported its financial results for the last quarter, exceeding analysts’ expectations. Analysts had estimated a loss of 79 cents per share, but AMC reported a slightly narrower loss of 78 cents per share. Revenue also surpassed estimates, with AMC reporting $951.4 million compared to an estimated $871 million.

Looking forward to the next quarter, analysts anticipate a reduced loss of $0.37 per share and project revenue to increase to approximately $1.11 billion.

AMC Price Action: AMC Entertainment holdings shares were up by 1.43% at $4.59 at the time of writing, according to Benzinga Pro.