AMC Tumbled Nearly 16% in Morning Trading

$AMC Entertainment(AMC)$ tumbled nearly 16% in morning trading.

It disclosed an equity distribution agreement in which the company could sell up to 40 million common shares. That would represent up to 7.7% of the common shares outstanding. The shares sales, if any, may be "at the market offerings" or could be to sales agents through block trades.

The stock, which underwent a 1-for-10 reverse stock split on Aug. 24, was on track to open at the lowest price seen during regular-session hours since Jan. 15, 2021. It has tumbled 66.7% over the past three months through Tuesday, while the S&P 500 has gained 5.0%.

$(AMC)$
# How do you view AMC stock sale and dilution?

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