What In The World Is Going On With AMC Stock?

AMC Entertainment Holdings Inc AMC shares are trading higher by 9.3% to $11.92 Wednesday morning on continued volatility after the company's reverse stock split took effect last week and amid last Friday's APE conversion.

At the close of trading on Friday, AMC recorded a weekly decline exceeding 60%. Notably, the stock commenced trading under a 10-to-1 reverse split arrangement as of last Thursday's market opening. The company's AMC Preferred Equity Units, formerly traded as APE, underwent conversion into common stock on Friday.

For the unitiated, although AMC stock wasn't in immediate danger of delisting, companies often opt for a reverse stock split when their stock price has fallen significantly and they want to avoid delisting from stock exchanges that have minimum price requirements.

What Else?

Following the conversion, the total AMC share count rose from roughly 542.2 million to 550 million shares. AMC stock has also fallen roughly 85% over the past year, despite several records at the box office.

“Barbie” this summer posted a weekend box office debut of $155 million. “Oppenheimer," which was released by Comcast Corp unit Universal, grossed $81 million in its opening weekend domestically...Read More

According to data from Benzinga Pro, AMC has a 52-week high of $107.50 and a 52-week low of $10.72.

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