By Liz Moyer

Investing.com — AMC Entertainment Holdings Inc (NYSE:) shares slipped 1.6% after disclosing it acquired a 6.8% stake in National CineMedia.

National CineMedia Inc (NASDAQ) shares also fell by 4% Wednesday during volatile trading. Major benchmarks dropped significantly due to selling pressure.

AMC, which is the world’s largest chain of movie theatres, revealed the stake late Tuesday in a regulatory filing. It said the shares weren’t acquired to change or influence National CineMedia, which is an advertising company that displays the ads shown in theaters.

AMC acquired a stake in Hycroft Mining Holding Corporation, NASDAQ:) earlier in the year as a way to diversify.