From Dow Jones & Company:

AMC Entertainment Holdings Inc. ended a four-day losing streak by closing at a record low of $5.30 on Thursday. This is the lowest close since November 2023, a result of the decline from its all-time closing high of $339.05 in 2021. The company has managed to issue 3,258,657 shares of Class A common stock in exchange for $22.5 million of its debts due in 2026. This move is part of AMC’s ongoing efforts to tackle its mounting debt burden, which crossed $5 billion in 2022. CEO Adam Aron has cautioned about ongoing liquidity challenges faced by the company, and the stock has dropped 84.8% over the past 12 months.

Overall, AMC’s stock is losing out as it continues to remain in a slump following the cessation of its meme-stock status, ending at a record low of $5.30 on Thursday. A series of privately negotiated exchange agreements has allowed the company to tackle its substantial debt burden and generate approximately $350 million. Despite these efforts, AMC’s stock remains down by 84.8% over the past 12 months compared to the S&P 500 index’s gain of 23.1%. Out of seven analysts surveyed by FactSet, four have a hold rating and three have a sell rating for AMC.



Read more: AMC hits another record low close, extends losing streak to four days