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Did China's Wanda Cash in During AMC Theatres' Stock Surge?

China city Beijing Entertainment Hollywood show
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hollywoodreporter.com
hollywoodreporter.comhollywoodreporter.com:

Was Chinese conglomerate Wanda Group among the surprise beneficiaries of the recent retail investor frenzy that caused a spike in the stock price of movie theater giantAMC Entertainment?

A U.S.-based division of Wanda converted its Class B common stock in AMC to Class A shares on Monday, Feb. 1 "in order to permit sales of its common stock," AMC revealed in a filing with the Securities and Exchange Commission on Friday.

It didn't detail the amount of stock converted. (AMC Entertainment is the company's official name, but it operates under the brand AMC Theatres.) The filing also didn't indicate whether Wanda immediately exercised the right to sell its AMC shares, and a representative of the conglomerate's Beijing office told The Hollywood.

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