These were some of the biggest movers and shakers in premarket Monday trading:
Stock gainers:
Shares of AMC Entertainment Holdings Inc.’s Preferred Equity units
APE,
jumped 33% ahead of Monday’s open after a Delaware court on Friday approved a revised, but still controversial, stock-conversion plan for the movie-theater chain.
Stock decliners:
U.S. Steel shares
X,
surged 22% after Cleveland-Cliffs Inc.
CLF,
announced Sunday it had made a $7.3 billion takeover bid that was rejected by the steelmaker’s board. Earlier Sunday, U.S. Steel said it was reviewing “strategic alternatives” after receiving multiple unsolicited acquisition proposals. Cleveland-Cliffs shares fell 5%.
AMC Entertainment Holding Inc. shares
AMC,
fell more than 25% after that court approval of the movie-theater chain’s stock-conversion plan.
Shares of Tesla Inc.
TSLA,
slipped 1.7% in premarket after the electric-vehicle maker cut the cost of two versions of its Model Y SUVs on Sunday.
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