> AMC is trading at like a reasonable price. How so? Pre-pandemic AMC was at $7 per share, which might seem reasonable compared to the current $8 share price

> AMC is trading at like a reasonable price. How so? Pre-pandemic AMC was at $7 per share, which might seem reasonable compared to the current $8 share price until you realize they diluted their shares by more than 3X during the pandemic via ATM offerings. For AMC's current valuation to match pre-pandemic levels, the share price would have to fall by ~75%.