AMC Entertainment Once Again on the Brink as It Sells Stock to Raise Cash

Just a day after its stock bounded over 20% higher on the reopening plans of its New York State theaters, AMC Entertainment (NYSE: AMC) is using the opportunity of the rising stock price to issue more shares. AMC reiterated it is going to run out of money by the end of the year or early next year, so it announced today that it is launching a stock offering of up to 15 million shares, which amounts to approximately 14% of its shares outstanding.