AMC Entertainment stock’s market value surpassed $10 billion for the first time.
The world’s largest movie theatre chain’s stock has more than doubled since the company reported its quarterly results on May 6. On May 13, AMC said it completed an offering of 43 million shares. The offering generated $428 million of new capital, before commissions and fees, at an average price of $9.94 a share.
AMC has raised more than $1 billion to avoid bankruptcy in recent months.