What's Going On With AMC Entertainment Stock Today?
AMC Entertainment Holdings Inc (NYSE: AMC) shares are trading lower Friday afternoon. Fox Business' Charles Gasparino teased an upcoming segment via Twitter featuring AMC CEO Adam Aron.
Gasparino reported that Aron is weighing making significant changes to the company's business model that would entail a series of "distressed investments," similar to AMC's recent investment in gold and silver miner Hycroft Mining Holding Corp (NASDAQ: HYMC). The tweet suggests AMC is considering approximately six separate deals valued around $500 million.
SCOOP: Seeing tough times ahead for core theater biz $AMC chief @CEOAdam is weighing board approval to become a distressed investor, using as much as $500M of his $1.8B war chest for deals similar to @HycroftMining that he believes is already a success. More at 345pm @FoxBusiness
— Charles Gasparino (@CGasparino) April 1, 2022
Furthermore, Gasparino has reported that management has looked into claims of synthetic shorting of AMC shares and "found no evidence."
AMC is popular among retail investors who call themselves "apes." One of the apes' main goals is to expose the perceived corrupt short-selling practices that they believe to be ongoing.
AMC 52-Week Range: $8.31 - $72.62
The stock was down 5.88% at $23.20 at time of publication.
Photo: samantha celera from Flickr.
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