It should never have been trading up at $70 and was only trading there for a very brief period 22 months ago due to the manipulation of the share price up to those levels, and because of the short squeeze that occurred and ran its course. The sad thing for all of AMC's shareholders was that AA wanted to sell common shares way up at those levels and asked shareholders to authorize more common shares, but the APES stupidly and shortsightedly fought it and it never came to pass. AMC would not be in the predicament it is in today had shareholders have not opposed more shares back then and relatively few new common shares could have been sold at those ridiculously inflated levels with minimal dilution to pay down or off AMC's mountain of debt. APES have only themselves to blame for where they are today, and for the necessary workaround via issuance of the Preferred APE shares. But, none of that has anything to do with whether short sellers cause any company to file for BK.
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