AMC shares slide 4.7% after cinema operator files shelf to offer up to 20 million shares

/ / News

AMC Entertainment Holdings Inc. shares slid 4.7% Monday after the company filed a shelf registration to offer up to 20 million shares over time. AMC, the world’s biggest cinema chain, is struggling as the coronavirus pandemic shutters cinemas or allows them to operate at limited capacity. The company has already tapped the capital markets since the outbreak first started, has reorganized its debt and reached out to investors for the cash to remain in business. AMC shares are down 69% in the year to date, while the S&P 500 has gained 2%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.