AMC concludes $250 million stock offering amid surge in meme rally, stock price soars by 90%

At Extreme Investor Network, we are always keeping a close eye on market trends, especially when it comes to meme stocks. One recent development that caught our attention is AMC Entertainment’s successful raise of $250 million in new equity capital. This move was completed during the resurgence of the meme stock craze, sparked by the return of “Roaring Kitty.”

AMC sold 72.5 million shares in an at-the-market equity offering that it launched on March 28, with an average price of $3.45 per share before commissions and fees. Following this news, AMC shares soared an impressive 94% on Tuesday and experienced trading halts due to volatility.

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The increase in AMC’s stock price led to speculation that the company hurried to complete its equity sale at elevated prices. As trading continued, AMC more than doubled, reaching an intraday peak of $5.88 and closing the session up more than 78% at $5.19.

But the excitement didn’t stop there. Roaring Kitty, the man who inspired the meme stock mania last year, resurfaced online with a cryptic image, triggering a buying frenzy among amateur traders. Shares of GameStop also saw a 74% surge on Monday, with trading halts for volatility.

Citigroup, Barclays, B. Riley Securities, and Goldman Sachs acted as the sales agents for AMC’s equity offering, further highlighting the interest and support from major financial institutions.

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As the meme stock craze continues to captivate the market, it’s essential to stay informed and make strategic investment decisions. At Extreme Investor Network, we provide in-depth analysis and insights to help you navigate these exciting but volatile opportunities with confidence. Stay tuned for more updates and exclusive content from our team of financial experts.

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