AMC, this summer's blockbuster stock, warns of plot twists
June 3, 2021
By MICHELLE CHAPMAN and STAN CHOE AP Business Writers
Got your popcorn? The wild ride for the summer's blockbuster stock, AMC, got even crazier on Thursday.
The movie-theater company's stock plunged nearly 40% in the morning after it announced plans to sell 11.6 million shares to raise cash, while warning buyers they could lose all their money. But it erased the loss in just a few hours. After the stock sale was complete, it climbed above the record closing price it had set a day earlier, only to sink back to an 8% loss later in the afternoon.
It's the latest stupefying, nearly unexplaina...