The financial maneuvers of AMC Entertainment (NYSE:AMC) continue to cost dearly for its investors.
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Shares of this meme-mania darling are down 7% today and a massive 76.8% over the past year. AMC currently has a debt pile upwards of $5 billion, is planning to convert the APE units into common shares and undertake a reverse stock split of 1-for-10.
Meanwhile, short interest in the stock remains high at about 19.4% and the company hasn’t turned a profit in the last five years.
Wall Street currently has a Moderate Sell rating on the stock alongside an average price target of $3.53. This points to a further 13.69% potential downside in the stock on top of the losses investors are sitting on already.
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