Shares of AMC Entertainment (AMC) is making a comeback, the company has announced that it has raised $428 million in a 43 million share at-the-market equity offering at an average price of $9.94.
Bringing in an additional $428 million of new equity capital will immediately buttress and fortify our liquidity profile. The additional cash raised puts AMC in a stronger position to tackle the challenges and capitalize on the opportunities that lie ahead.AMC CEO and President Adam Aron
What happened with AMC Entertainment (AMC) stock today?
#AMCSqueeze is trending on Twitter as analysts discuss a possible short squeeze for the company. Short squeeze market action became common when GameStop (GME) shares skyrocketed higher earlier this year after traders on the subreddit r/wallstreetbets made posts asking others to help drive the stock higher.
AMC is currently trending on r/wallstreetbets with posts asking traders to buy and hold the stock. AMC is also a top trending ticker on Stocktwits as posts flood the platform expressing similar intentions.