https://www.cnbc.com/2020/10/20/amc-warns-that-bankruptcy-is-on-the-table-as-cash-runs-low.html
AMC has agreed to sell as many as 15 million shares of its stock, but equity in the company could soon be worthless if the largest theater chain in the world files for bankruptcy.
On Tuesday, AMC continued to warn investors about its dwindling cash pile and said it may have to file for Chapter 11 bankruptcy if it is unable to secure additional sources of liquidity.
Shares of the company tumbled more than 11% on the news. AMC’s stock, which has a market value of around $387 million, has plunged 56% so far this year.
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So AMC China is going belly up....good riddance.
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