AMC Entertainment Holdings Inc. is facing financial difficulties, with predictions of significant cash burn in the coming quarters. The company is expected to burn through more than a quarter of a billion dollars in Q1 2024, following a Q4 cash burn. Despite having three-quarters of a billion dollars in cash on hand in September, concerns are growing that these reserves will not last. AMC's stock has been on a downward trajectory, leading CEO Adam Aron to turn to equity issuance as a means of rebuilding. The stock has reached another all-time low, continuing its decline from the peak during the 2021 meme stock frenzy, where it has now lost 99.3% of its value.
AMC shares are now down 99.3% from their peak during the 2021 meme stock mania, another all-time low. $AMC https://t.co/tIMzmobhqR
AMC’s stock slides again as original meme stock hits another all-time low - my story for @MarketWatch #AMC $AMC https://t.co/qVgcTDGL64
AMC’s stock slides again as original meme stock hits another all-time low https://t.co/QUWrNJRdPa
AMC's stock has been in an extended decline that has prompted CEO Adam Aron to rely on equity issuance as a rebuilding tool https://t.co/WnW383KO43
I am so so scared. $AMC will probably burn cash in Q4 and burn > a quarter of a billion in Q1 2024. Yes, there is 3/4 of a billion in cash on hand in September. It won't last. https://t.co/WqXiB6mlvP