AMC Entertainment shares sink for third day running

AMC Entertainment shares sank for a third day in a row another wave of equity from the debt-laden cinema chain hit the market. Earlier this month, AMC  said it was issuing more equity to clear US$22.5m of high-yielding bonds and PIK notes. Since the height of the meme stock frenzy of 2021 when AMC was among a clutch of stocks that soared in a battle between retail investors and hedge funds, its value has slumped by 99%. That is despite a recovery in box office takings following the end of the pandemic, incl ...