AMC Entertainment Dives 15% After Shareholders Approve Reverse Split, APE Unit Conversion

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Drop comes as Fintel options data reveals a sharp sentiment change in AMC stock Shares of American theatre operator AMC Entertainment (NYSE:AMC) plunged as much as 20.3% in trading on Tuesday after holders voted to approve the conversion of preferred APE units to ordinary shares and a reverse stock split at the special shareholder meeting. Q4 2022 hedge fund letters, conferences and more At the time of the meeting, AMC ordinary shares dived while APE shares briefly spiked 20% higher. By the close, AMC shares recovered some of the losses to close the day with a 15% lower while the APE preferred…

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