UPDATED with closing prices: AMC Entertainment’s new APE securities — AMC Preferred Equity Units – began trading today late morning in a messy session for the big exhibitor, whose primary stock plummeted, closing down 41%. at $10.46. It was up slightly in after-market trading. APE units were being distributed to AMC shareholders via their brokers
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AMC Entertainment saw revenue surge and net losses continue to narrow last quarter on a string of blockbusters led by Top Gun: Maverick. Comparisons with 2021 aren’t hard but exhibitors are seeing ticket sales moving closer to 2019 levels. The nation’s biggest movie chain saw sales of $1.16 billion compared with $444.7 million for the