AMC shares set for record open as ‘meme stocks’ surge

Published by
Reuters

(Reuters) – Shares of AMC Entertainment Holdings Inc surged 28% in early deals on Wednesday, extending a rally and setting up to open at a record high a day after the company raised $230 million to cash in on a social media-driven trading frenzy. The movie-theater operator’s stock traded at $41 after soaring more than 1,400% so far this year, leading gains among the group of “meme stocks” that include video game retailer GameStop and BlackBerry Ltd. The company said on Tuesday it had issued 8.5 million shares to Mudrick Capital Management, bringing its total share sale since December 2020 to a…

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