What's Up With AMC's Stock Today?

AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading lower by 6.75% at $58.33 Thursday morning after the company announced it entered into an equity distribution agreement with B. Riley Securities and Citigroup Global Markets to sell up to 11,550,00 shares of Class A common stock.

AMC's stock soared 95% in Wednesday's session.

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AMC Entertainment Holdings is involved in the theatrical exhibition business. As of March 12, 2021, it operated approximately 1000 theatres and 10,700 screens making it the largest theatre chain in the United States and internationally.