AMC Dips 6%, APEs Leap 5% As Conversion Settlement Gets Fresh Review Request

Seekingalpha2023-04-15

AMC Entertainment (NYSE:AMC) dipped on fresh afternoon volume, -6.3%, and AMC Preferred Equity units (NYSE:APE) jumped 5.7%, amid the latest development in the theater chain's quest to convert its ...

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Comments

HLPA
2023-04-15
HLPA
Stay out of both AMC and APE. The manipulation by the owners of AMC only yhink of themselves to grow their own coffers not investots. Stay out for your own sake
Swordmerlin
2023-04-15
Swordmerlin
Ok
William_Chow
2023-04-15
William_Chow
Buy more $AMC Entertainment(AMC)$

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Later, the stocks moved again as AMC filed a proposed binding settlement with the plaintiffs.That settlement was denied, though, by Delaware Vice Chancellor Morgan Zurn, who implied that it needed to go through proper procedures rather than taking actions aimed at \"receiving the common stock sooner.\"On Friday, attorneys for parties to the settlement wrote Delaware Vice Chancellor Morgan Zurn to request a status conference for next week to talk about timing and notice of the settlement, and an adjournment of litigation deadlines pending a final decision.The settlement has been cruising toward an April 27 injunction hearing, and the latest action suggests that a settlement enabling AMC's plan may be moving forward.“The massive AMC / APE spread is going to $0.00 sooner or later,\" Chris DeMuth Jr., Partner of Rangeley Capital, told Seeking Alpha. \"The judge simply wants to go through the normal procedure to approve the negotiated litigation settlement. APE could easily be a double from here over the next month or two, using the options-implied price for AMC. That price is likely to be lower but could be quite a lot lower while still allowing an APE long to work.”","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9945495630,"gmtCreate":1681535414820,"gmtModify":1681535418443,"author":{"id":"3569274903458035","authorId":"3569274903458035","name":"HLPA","avatar":"https://static.tigerbbs.com/07e7b987a9127c5a47dbc3ae02db548b","vip":1,"hat":"https://static.tigerbbs.com/646756f1284a5a6480ed02cc4fa7d1d2","crmLevel":8,"crmLevelSwitch":1,"idStr":"3569274903458035","authorIdStr":"3569274903458035"},"htmlText":"Stay out of both AMC and APE. The manipulation by the owners of AMC only yhink of themselves to grow their own coffers not investots. Stay out&nbsp; for your own sake","listText":"Stay out of both AMC and APE. The manipulation by the owners of AMC only yhink of themselves to grow their own coffers not investots. Stay out&nbsp; for your own sake","text":"Stay out of both AMC and APE. The manipulation by the owners of AMC only yhink of themselves to grow their own coffers not investots. 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