AMC Entertainment (AMC.N)announced its second share issue in three days on Thursday, adding to the company's efforts to bolster its finances on the back of a Reddit-driven speculative surge in its stock.
A taxi passes an AMC theatre amid the coronavirus disease pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegriannounced its second share issue in three days on Thursday, adding to the company's efforts to bolster its finances on the back of a Reddit-driven speculative surge in its stock.
It added: "Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment." David Trainer, CEO of investment research firm New Constructs said that the rise of streaming and stiff competition facing movie theaters meant the U.S. economy's reopening is unlikely to boost the AMC's performance.
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