Shares of AMC Entertainment fell more than 10% Thursday after the theater chain operator filed plans to sell more $350 million in new stock.
The stock was down $1.08, or 10.7%, to $9.01 in midday trading, after earlier trading as low as $8.02. Trading volume was more than twice a typical day. The stock closed Wednesday down 74% since the start of the year.
AMC reported a strong third quarter after the market closed Wednesday, as the box office hits “Oppenheimer” and “Barbie” helped send revenue soaring 45% compared to last summer. The profit of 8 cents per share soundly topped Wall Street’s expectations for a loss of 22 cents.