AMC shares make biggest gain in nearly three months ahead of stock conversion hearing

AMC Entertainment Holdings Inc.’s stock ended Wednesday’s session up 7.6% on the eve of a key hearing in the company’s push to convert its AMC Preferred Equity Units into common stock.

Shares of AMC
AMC,
+7.56%
had their largest single-day percentage gain since April 6, when they rose 21%. Earlier this week, the stock snapped its longest losing streak in 18 months. The APE
APE,
-3.37%
units ended Wednesday’s session down 3.4%.