Shares of AMC Entertainment (NYSE: AMC) are higher today after the company said no deal was reached with Cineworld’s (OTC: CNNWQ) lenders. Cineworld had filed for bankruptcy earlier in the year, and AMC was interested in acquiring some of its assets.
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It’s likely that if the company emerges from bankruptcy fully intact that it’ll end up in control of its creditors. This means that any remaining equity holders will be wiped out.
Overall, Wall Street analysts have a consensus price target of $3.53 on AMC stock, implying 33% downside potential, as indicated by the graphic above.
