Shares of AMC Entertainment Holdings, Inc. (NYSE: AMC) plunged 30.22% at the time of writing on Thursday. The negative performance of the firm indicated the negative sentiments of the investors after the firm disclosed that it is planning to dump 11.55 million shares of its common stock to repay debt and also to back future buying.
The declaration of the firm on Thursday warned the investors who are exploring ways to purchase the share of the firm. Earlier, AMC has raised $230.5 million in a share sale this week. The firm introduced AMC Investor Connect in the recent past is targeting to use the euphoria in the stock to assist the business.
The share of the firm plunged 30.22% as it lost -18.90 at the time of trading on Thursday. The firm has recorded a trading volume of 212.77 million as compared to the average volume of 123.38 million. In the past 52-weeks of a trading session, the share of the firm fluctuated $1.91 from its 52-week low range and $72.62 from its 52-week high range. AMC Entertainment has a total market capitalization of $28.60 billion at the time of writing.
Furthermore, AMC disclosed in a filing that the market prices and trading volume of its shares of Class A common stock have recently encountered, and may continue to encounter, thrilling volatility. The extreme volatility could cause buyers of our Class A common stock to suffer considerable losses.
In addition to this, the filing allows for shares to be dump at-the-market, which is unlike the traditional stock offering because the buyers are found in the open market where retail traders flourish. Stocks dump in traditional offerings are bought mostly by recognized investors. B. Riley will manage the transaction.