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Birdnest
2022-08-23

Wedbush Still Negative on AMC Shares, but Sees Company "Well Positioned"

Wedbush updated its model on AMC Entertainment (NYSE:AMC) Tuesday following the trading of AMC Prefe

Wedbush Still Negative on AMC Shares, but Sees Company "Well Positioned"

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AMC is pre-authorized to issue up to 4.5 billion additional preferred shares of APE to raise cash.&#34;</p><p>&#34;We expect AMC to wait for APE shares to stabilize with AMC, then issue a portion of its authorized APE shares for cash to pay down the majority of its outstanding debt,&#34; Reese said. &#34;We note that at the August 22 closing price of $6, AMC would have to issue over 900 million shares of APE to repay its entire debt balance.&#34;</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wedbush Still Negative on AMC Shares, but Sees Company \"Well Positioned\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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AMC is pre-authorized to issue up to 4.5 billion additional preferred shares of APE to raise cash.\"\"We expect AMC to wait for APE shares to stabilize with AMC, then issue a portion of its authorized APE shares for cash to pay down the majority of its outstanding debt,\" Reese said. \"We note that at the August 22 closing price of $6, AMC would have to issue over 900 million shares of APE to repay its entire debt balance.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":192,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}