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AMC rescued from $600 million in debt due to Meme Stock Rally
- Thread starter Lump
- Start date
Gamestop haven't done this yet.
No problem.
It is kind of amazing that they havent yet. It is almost like they are HOLDING! just like the rest of WSB. Do they not have enough % of the company to give?
Do we know when AMC sold their shares?
Wednesday, whoooops. Everyone makes mistakes
AMC seizes on rally to sell stock, but misses even bigger payday
AMC Entertainment Holdings Inc said on Wednesday it had raised $304.8 million by selling shares during an unprecedented social media-driven rally in its stock, though the U.S. movie theater firm could have raised about four times more by waiting one more day.
www.reuters.com
They're quite a ways away from GME short, last I read it was like 60'ish%. I don't think there are other major names in the same position as GME where it's over 100%. Although who knows where these hedge funds are now at after their fuckery.
The rumors were that they shorted GME and others again before asking/telling Robinhood to shutdown buying those stocks ensuring that they fell.
yeah last I had read its nowhere near GME situation but was the closest 2nd or something.
OP
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AMC also sold $300 million of shares on Monday. If AMC waited a couple days for the meme to go into high gear, they would've made $900 million more, so now they'll have to sell 12 more large popcorns to make up for it.
Probably not, Sega had been unprofitable for years and an influx of cash wouldn't have changed the fact that their business wasn't making money.
Also, their new ceo at the time had been a proponent of Sega going third party for a long time, so it was inevitable.
2 days ago. Caused a massive drop in the stock price. That's where this $600 million number comes from.
kind of difficult since it hasn't been publicly traded since 2005, when it underwent a leveraged buyout.
Toys R Us' successor company, TRU Kids, is a privately held company
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My AMC theater is my favorite theater to go to, so I'm glad that they get to stay afloat for awhile, will be excited to go back to the movies once the vaccine is out there more
917 million
AMC Entertainment says bankruptcy is off the table after raising more than $900 million since December
Shares of AMC skyrocketed Monday after the company disclosed that it had secured enough financing to remain open and operational deep into 2021.
www.cnbc.com
I think that is silver lake converting the debt of around 600 million to stock and then selling it off. I think AMC made around 300 million when they sold on Tuesday like it says in the articles posted by others.
The difference between their pre-meme financing and this meme infusion is, I think, that the financing carries debt obligations while the stock offering is just free money, and they cleared a bit of their corporate debt too as stock options were called in by owners who wanted to sell into the rally, which is probably one of the reasons it did not take off, too much selling from debt holders and AMC.
"Introducing GAMESTOP NOW! Pre-order your favorite new games and not only can you buy them physically day one, but add them to your Gamestop Now streaming library and play them instantly on launch day! Only $9.99 a month with a large library of older titles."
"Order on AMC.com for your 'Godzilla vs. Kong' Deluxe package! With your $40 online purchase, you'll get a one-day digital rental, and we'll ship you an IMAX ticket (good where states are open), a souvenir cup and popcorn bucket with two 16oz Coke cans and large bag of our movie theatre popcorn!"
Note that neither of those are real, I'm just spit-balling ideas.
funny thing is some theaters are selling shit like popcorn etc. on grubhub etc. They could develop some sort of meal deal thing in collaboration with the studios. Stream the movie and get popcorn and drinks delivered.
Gamestops entire business model largely relies on used titles no. Even if they wanted to transition to a digital future they would need to lobby for digital ownership and build a platform for that. Which I don't think they can really do. I'm not sure how they can transition when the goal of many publishers is to largely cut them out.
As for AMC the model does have to change the problem again is the source. The movie industry holds all the cards. This is the problem any time you deal with basically being a commodities vendor and not a platform.
As for AMC the model does have to change the problem again is the source. The movie industry holds all the cards. This is the problem any time you deal with basically being a commodities vendor and not a platform.
OP
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My wife got me a $300 popcorn machine for Christmas and it's awesome. Those Great Northern all-in-one packs on Amazon are the real deal.
Just trying to protect you. You see, you can't handle the volatility, you see, it's all for your own good.
where can I buy them shares though? Reddit told me cashapp, but my wife basically said that sounds too weird and I kind of agree
I'm dropping a few hundred bones into AMC myself, just waiting for the transaction to go through.
Because Gamestop's balance sheet is actually pretty solid and the main reason why the guy DFV made this ridiculous bet. Gamestop probably feels indebted to WSB for giving them this second life and want to continue screwing over the company that shorted them.