AMC Entertainment Holdings Inc. dizzied investors Thursday by losing 40% of its market value, then regaining more than half of that and pocketing more than $587 million in fresh cash by exploiting the frenzy.
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(Bloomberg) AMC Entertainment Holdings Inc. dizzied investors Thursday by losing 40% of its market value, then regaining more than half of it and pocketing more than $587 million in fresh cash by exploiting the frenzy.The stock’s wild rally of 2021 initially collapsed on Thursday when the company disclosed plans to sell more shares and use the money to cut its heavy debts. AMC went ahead with the sale anyway, ultimately collecting $587 million by midday, and any concern among investors tha
(Bloomberg) Even before Reddit day traders pushed AMC Entertainment Holdings Inc.’s stock up 1,400% this year, Jason Mudrick had been telling the company it should take advantage of the wild rally by selling stock to stay in business.Now Mudrick has helped AMC do just that, effectively bankrolling one of the company’s biggest equity sales by purchasing $230 million of shares and then promptly dumping them in the open market for a tidy profit. Meanwhile, his firm was telling clients it was