: AMC’s APE stock’s largest investor sells again, cuts stake to below 10%

Antara Capital LP disclosed Thursday that it sold more of movie-theater chain AMC Entertainment Holdings Inc.’s AMC AMC Preferred Equity shares APE, known as APEs, to reduce the stake to below 10%. In filings with the Securities and Exchange Commission, Antara said it sold a total of 7,993,400 APEs on Wednesday, valued at $13.82 million. That dropped Antara’s ownership to 98.11 million APEs, or 9.86% of the total APEs outstanding. Antara had disclosed its first purchase of APEs in January, “for investment purposes,” with the stock rising to a peak of 258.44 million shares, or 28.7% of the APEs outstanding, before it started selling. APE shares rose 1.7% in premarket trading while AMC’s stock, an original “meme” stock, fell 0.9%. Over the past three months through Wednesday, APE shares have run up 18.6% while AMC’s stock has shed 11.8%. The S&P 500 SPX has gained 8.7% the past three months.

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