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


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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
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
surged 22% after Cleveland-Cliffs Inc.
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
fell more than 25% after that court approval of the movie-theater chain’s stock-conversion plan.

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

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Alexandra Williams
Alexandra Williams
Alexandra Williams is a writer and editor. Angeles. She writes about politics, art, and culture for LinkDaddy News.

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