Marathon Cashing In on AMC's Meme-Stock Rally, CEO Richards Says [BNN Bloomberg (Canada)]
AMC Entertainment Holdings, Inc. Class A (AMC)
NASDAQ:AMEX Investor Relations:
investor.amctheatres.com
Company Research
Source: BNN Bloomberg
The hedge fund bought senior secured AMC debt when it was changing hands for some 60 cents on the dollar and which has since rallied to more than 90 cents, Richards said. The cinema chain's stock surge this week — sparked by the return of Keith Gill, known online as “Roaring Kitty” to social media — and subsequent equity raise gave debtholders a bigger safety cushion, he said. “We're earning 15% senior secured liened up against all their assets” and have all the downside protection that debt provides, Richards said, adding that it's “thanks to Roaring Kitty and all the meme fan club that is buying AMC.” AMC Entertainment Holdings has been taking advantage of its rally to reduce its debt, revisiting a playbook that helped it shore up liquidity in 2021. “I love it for us,” Richards said. --With assistance from Eliza Ronalds-Hannon. ©2024 Bloomberg L.P.
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AMC
News
- AMC Entertainment (AMC) Falls More Steeply Than Broader Market: What Investors Need to Know [Yahoo! Finance]Yahoo! Finance
- AMC Entertainment Holdings, Inc. to Host Third Quarter 2024 Earnings WebcastBusiness Wire
- AMC Entertainment (AMC) Suffers a Larger Drop Than the General Market: Key Insights [Yahoo! Finance]Yahoo! Finance
- Wanda exited Legendary and AMC. But China's Hollywood legacy endures [Los Angeles Times (CA)]Los Angeles Times
- AMC Entertainment (AMC) Stock Drops Despite Market Gains: Important Facts to Note [Yahoo! Finance]Yahoo! Finance
AMC
Earnings
- 8/2/24 - In-Line
AMC
Sec Filings
- 10/22/24 - Form SC
- 9/30/24 - Form 8-K
- 9/16/24 - Form 4
- AMC's page on the SEC website