AMC Entertainment shares are trading lower after a 10-to-1 reverse stock split

Benzinga

AMC Entertainment shares are trading lower ahead of a 10-to-1 reverse stock split scheduled to take effect Thursday. AMC Preferred Equity Units will be converted to AMC common stock the following day.

Transcript

00:00 I don't think the rotation might be going to this one.

00:03 Let's take a look.

00:04 AMC, one for 10 split there, reverse split here.

00:09 AMC Entertainment and its shares are trading lower

00:12 after a 10 to one reverse stock split.

00:16 Will this ever come back?

00:17 I'll tell you one thing.

00:18 I don't know, man.

00:19 I don't want anything to do with this at all.

00:22 Long, short.

00:24 - The apes hate it when we say anything negative about it.

00:26 - Oh, I saw the laser eyes out there, man.

00:29 - The laser eyes were out there.

00:31 - The laser eyes are hurting, man.

00:33 I'm going to say, this story,

00:36 which obviously was very hot a couple of years ago,

00:40 has not only went ice cold,

00:42 it almost feels like it's over.

00:44 I mean, the all time high on AMC now after the 2022

00:47 is like $350 and it's 17 bucks.

00:51 So, I mean, I don't even know what to say on this.

00:54 - You ready for this?

00:55 - Actually, I don't even know if that's adjusted.

00:57 That's probably higher than that.

00:58 - You ready for the adjusted?

00:58 - Yeah, what's the adjusted?

01:00 - 726.20.

01:03 - Yeah, and you're 17 bucks.

01:05 So it's a reverse-

01:06 - Going back to 700, man.

01:09 - It's a reverse splat.

01:10 I mean, it was a fun movement.

01:12 Yeah, we're going to give it to, you know,

01:14 the market makers, make them all lose money.

01:16 In the end though, the retail loses again,

01:19 which is somewhat disappointing,

01:21 but at the same time, this market here,

01:24 it's just, you know, like you can stay

01:28 and bubbles can happen in the short term,

01:30 but in the long run, valuation always matters

01:35 in the long run.

01:36 And that's the bottom line is you've got

01:37 a movie theater company and other movie theater companies

01:41 aren't worth nearly as much as this.

01:43 So that's just the bottom line.

01:45 - And that's the bottom line 'cause Stone Cold says so.

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