AMC multiplex movie theater.
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Shares of AMC Entertainment reached $37.52 on Wednesday, opening at an all-time high.
The move comes as investors shrugged off a report that a hedge fund had sold its AMC stake.
On Tuesday, AMC reported it had sold 8.5 million newly issued shares to Mudrick Capital, the latest in a series of capital raises for the meme stock. The hedge fund later turned around and sold all of its AMC stock for a profit, according to a report from Bloomberg News.
AMC said in a securities filing that it raised $230.5 million through a stock sale to the investment firm. The movie theater operator said it would use the funds for potential…
Source cnbc.com