AMC Pays Down Massive Debt Load as Retail Investors Rally Behind Stock from superdrug online shopping sale Watch Video
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⏲ Duration: 0:35 👁 View: 410K times ✓ Published: 16-May-2024
Description: AMC shares more than doubled since Friday after Roaring Kitty posted online for the first time in 3 years, reigniting the short sell frenzy. During the previous short sell rally in 2021, AMC avoided bankruptcy after retail investors rallied around the stock. AMC raised $250 million from a stock sale this week as the rally occurred and has a chance to put a dent in its substantial debt load from acquisitions in recent years. Lenders have renegotiated debt terms and a higher stock price could lead to better deals.