Shares of theater chain AMC Entertainment Holding Inc. were down 6% on relatively light volume during premarket trade on Tuesday after owner Dalian Wanda Group said on Monday that it was selling a $1.2 billion stake in its Chinese cinema business to Alibaba Group Holding Ltd. and a government-backed firm in order to pay down debt. Adding pressure to shares is a broader market sell off that saw historic losses on Monday. Joining AMC, MoviePass owner Helios & Matheson Analytics Inc. , which has proven to be a volatile stock, fell more than 8% in premarket trade Tuesday and shares of Cinemark Holdings Inc. were down 1% on light volume. Shares of Regal Entertainment Group , Imax Corp. and Marcus Corp. were inactive in premarket trade. Regal Entertainment is in the process of being acquired by British theater chain Cineworld $3.6 billion. Imax shares declined more than 2% in Monday’s sell off.
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