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Reddit Rebels' Stock Shenanigans Just Took a Heartwarming Turn pjmedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pjmedia.com Daily Mail and Mail on Sunday newspapers.
‘Meme stock’ rally rescues AMC theaters from $600M debt Share this story Photo by Scott Olson/Getty Images This week’s bizarre “meme stock” rally, which has delivered lottery-like windfalls for holders of GameStop stock, also wiped out $600 million in debt owed by the AMC theater chain. That’s because, on Wednesday, a private equity firm named Silver Lake and private equity firms are popularly considered the “bad guys” in this snobs-versus-slobs drama elected to convert the corporate bonds it held into AMC Entertainment Holdings stock. Although the theater chain’s stock price has tumbled and soared since the move, the debt relief is permanent. ....
Not only is your humble blogger not feeling well and in no mood to write, but due to the uninformed and misguided hyperventilating about Robinhood and the outrage about Reddit touts being deprived of their trading fix and possibly some gains, I nevertheless feel compelled to weigh in. I can muster the teeniest bit of sympathy for media frenzy over this story. It’s a happy bit of nostalgia, a reminder of the innocent days of the flash crash, before Trump and Covid. Plus the financial press must be happy to be getting some attention again. First Leon Black, now wild stock gyrations and lots of finger-pointing. They might be on a roll. ....
عقد غير عادل مع شركات التكنولوجيا | كرم نعمة alarab.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from alarab.co.uk Daily Mail and Mail on Sunday newspapers.