Closed signs are seen on an AMC Theatre during the outbreak of the coronavirus disease (COVID-19), in New York City, U.S., April 29, 2020. REUTERS/Brendan McDermid
(Reuters) - Cinema operator AMC Entertainment Holdings Inc has raised about $428 million from a share sale, capitalizing on the retail-trading driven surge in its stock earlier this year.
The world's largest cinema chain operator's shares have gained more than five-folds in 2021 thanks to interest from amateur traders on Reddit that were piling into heavily shorted stocks such as GameStop Corp and AMC to punish hedge funds that bet against them.
Already a subscriber? Log in.
Get 30% off with our ads free Premium Plan!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
