AMC Jumps After Box Office Data Hits
AMC Entertainment soared 22% to $2.12 as May crowds hit pre-pandemic highs, with 25.5 million attendees and “Backrooms” opening at $81 million. Over 116 million shares traded. AMC posted a Q1 net loss of $117.1 million, $339.2 million in cash, and $4.02 billion in debt. The company warned its cash burn is unsustainable and flagged dilution risk, having raised $7 million by selling 6.8 million shares since April.