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- AMC stock slid 35% on Monday after the company received approval to convert APE units to common stock.
- Investors have been fearing that scenario for months, as it could dilute value for existing shareholders.
- APE shares, meanwhile, jumped 19% on Monday.
AMC stock plummeted on Monday, as investors worry about the company's plans to convert preferred shares into common stock after a judge paved the way for the theater chain's proposal to raise more money to pay down debt.