With AMC shares up 1,100% in 2021, company sells shares

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The movie theater chain AMC is raising $230.5 million through an 8.5 million share sale, cashing in on the meme stock frenzy that has sent its stock price up more than 1,100% this year. Theaters and other beleaguered industries like restaurants and concert venues are anticipating the return of crowds over the next few months. But AMC is also part of a Wall Street phenomenon that began this year pitting larger, institutional hedge funds against a cadre of online investors, and shares in the companies have soared. Shares of AMC jumped another 20% Tuesday.  

The post With AMC shares up 1,100% in 2021, company sells shares appeared first on WEEK.

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