AMC Entertainment Stock finds tailwind even as big investor cashes –

0
15
AMC Entertainment Stock finds tailwind even as big investor cashes – fr


Source: TradingView

Exit sign

In recent days, the Chinese group Dalian Wanda has offloaded most of its stake in AMC, according to a US SEC file, collecting its assets to the tune of nearly 430 million USD. Dalian, who bought the film channel in 2012 and has reportedly sought a way out since the pandemic, has benefited from Reddit’s AMC fever. Although he still owns 10,000 AMC shares, he could no longer stay on the sidelines after the movie channel’s share climbed 580% since the start of the year.

AMC investors are celebrating that Dalian Wanda ultimately pulled the plug, saying the investor was a thorn in their side anyway.

LEAVE A REPLY

Please enter your comment!
Please enter your name here