Meme Stock Frenzy: AMC's CEO Wants to Sell up to 25 Million New Shares
A day after AMC Entertainment Holdings (NYSE: AMC) announced an investor outreach program that sent its share price skyrocketing, CEO Adam Aron held a video call with retail investors. Aron expressed a desire for the company to sell 25 million additional new shares; this news could trigger more volatility for the stock in the near term.
The stock fell on Thursday following news that the company planned to sell 11 million additional shares, and it looks like management is angling for an even larger share offering. If such a move goes through, AMC could raise substantial capital -- and potentially pave the way for it to explore growth opportunities outside of the movie-theater space.
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