Movers & Shakers: AMC shares tumble on revised stock-conversion plan, while U.S. Steel stock surges on takeover bid, and more moving stocks.


These were some of the biggest movers and shakers in premarket Monday trading:

Stock gainers:

Shares of AMC Entertainment Holdings Inc.’s Preferred Equity units APE, +1.71% jumped 33% ahead of Monday’s open after a Delaware court on Friday approved a revised, but still controversial, stock-conversion plan for the movie-theater chain.

Stock decliners:

U.S. Steel shares X, +0.98% surged 22% after Cleveland-Cliffs Inc. CLF, -0.07% announced Sunday it had made a $7.3 billion takeover bid that was rejected by the steelmaker’s board. Earlier Sunday, U.S. Steel said it was reviewing “strategic alternatives” after receiving multiple unsolicited acquisition proposals. Cleveland-Cliffs shares fell 5%.

AMC Entertainment Holding Inc. shares AMC, +5.62% fell more than 25% after that court approval of the movie-theater chain’s stock-conversion plan.

Shares of Tesla Inc. TSLA, -1.10% slipped 1.7% in premarket after the electric-vehicle maker cut the cost of two versions of its Model Y SUVs on Sunday.

This article was originally published by Read the original article here.

Previous article: Tesla cuts prices for some Model Y versions in China, as price war ramps back up
Next article: U.S. Steel’s stock soars 27% premarket after company rejects Cleveland-Cliffs offer but says it’s reviewing others


Please enter your comment!
Please enter your name here