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AMC Entertainment Files for $350M Stock Offer, Stock Drops 16% in Premarket Trading
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AMC Entertainment Reports Q3 Earnings, Files for $350M Stock Offering
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AMC Entertainment has filed for a $350 million offer of common stock, leading to a drop in its stock price by 16-20% in premarket trading. The company is said to price $300 million of shares at $10 each. Despite strong earnings, the stock tumbled as the company announced the share offering. The market reaction was negative, with shares dropping 10-16% on the news.