Jim Cramer supported holding onto AMC (AMC) - Get AMC Entertainment Holdings, Inc. Class A Report stock until the story changed.
Earlier this month, AMC abandoned plans to have shareholders approve a planned capital increase that would have diluted existing stockholders.
AMC said it would remove a proposal to increase its planned share sales from 525 million to around 550 million, and won't seek approval for any more issuance until at least 2022.
So what's Cramer's advice now?
"You take your profit, you move on and you congratulate your self," Cramer told Action Alerts PLUS senior analyst Jeff Marks.
Recap TheStreet Live: Everything Jim Cramer Is Watching 7/15/21