AMC Entertainment Holdings Inc.’s AMC, +2.35% AMC Preferred Equity Units or APEs APE were trading on the New York Stock Exchange on Monday, opening at $6.95. The stock is up 36.2% to trade at $9.35 shortly after the open. AMC Entertainment Holdings Inc. shares plummeted ahead of APE’s debut, falling 37.4% in premarket trading. AMC stock fell 31.5% shortly after the market opened on Monday. The company’s shares closed up 6.8% at $18.02 on Friday, compared to the S&P 500 Index SPX, -1.62%, down 1.3%. With the special dividend, the cinema chain is targeting its massive debt burden. The APE name is a nod to the investors who turned the company into a meme stock and often refer to themselves as “monkeys” or “monkey nation.” The dividend also marks the latest move in a battle over stock issues. AMC shares, which soared last year amid meme stock-buying frenzy, are down 33.8% in 2022, compared to the S&P 500 index’s 11.3% drop over the same period. Over the past three months, however, AMC shares are up 55.6%, outpacing the S&P 500’s 8.4% gain. Of eight analysts polled by FactSet, three have a hold rating and five have a sell rating on AMC.
