AMC shares rose 5% to $3.16 in afternoon trading, extending a rally that began when the company announced its refinancing, which closed roughly a week earlier with a $3.97 billion debt package. AMC stock is up 101% year to date, while Cinemark rose 4% to $38.17 and IMAX fell 0.6% to $51.40. In early October, AMC used a tender offer, first lien notes and new term loans to move almost all of its remaining maturities into the next decade. In Q2 2026, revenue rose 14.2% to $1.6 billion and adjusted EBITDA rose 70% to $321.4 million, but at quarter-end AMC still carried $3,851.6 million in corporate borrowings and negative stockholders' equity of $1,452.7 million. Skeptics argue the refinancing changes the timing of its debt while leaving its size intact.
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