Robinhood jumps after Wall Street praise, SEC settlement

AMC jumps after completing 50 million share offering

After closing on Thursday an archiving from AMC showed that the movie theater chain has completed the sale of the 50 million shares announced in early December, sending shares as much as 5% higher on Friday.

The company raised nearly $184 million through this offering and may receive additional proceeds in the future, management said. For context, the money raised is more than 10% of its third quarter sales.

As we suggested after the company hit the market in May when the meme stock craze started:

“AMC is in the process of receiving money in exchange for allowing access to a very entertaining show. I’m talking, of course, about its financing activities and the stock market — not going to the movies.“

The 50 million shares is quite a staggering number considering that prior to this, AMC had around 381 million shares outstanding per share. fact set.

The stock is still down about 46% from its 2024 peak.