AMC Stock Slides. 'APE' Units to Make Their Debut.

Movie-theater chain AMC Entertainment’s “APE” special preferred share dividends began trading Monday on the New York Stock Exchange. The stock plunged on risks that the new units would dilute the company’s main shares even more.

The APE units are a special dividend to class A common stockholders that AMC (ticker: AMC) announced in early August. At the time, CEO Adam Aron called the move “perhaps the single biggest action we will take in all of 2022 to fundamentally strengthen AMC for the long term.”