AMC Entertainment (AMC) stock is at it again. The heavily indebted cinema chain and once-loved meme stock is heading to the market to sell another $250 million worth of shares in order to pay down its strangling debt load obtained during the heights of the covid pandemic.
AMC Entertainment tumbles after disclosing plan to sell $250 million worth of stock. Cash would be used to pay down existing debt load. Kung Fu Panda 4 and Dune: Part 2 are doing well at the box office. Support awaits AMC stock at $3.60. AMC Entertainment stock is at it again.
Interest in these names normally comes from either belief in a turnaround story or its heavy short ratio. How do meme stocks become popular? Online investing forums like Reddit’s r/WallStreetBets are known to be breeding grounds for meme stocks. Normally, some small group of posters begin making memes of a stock they are buying. If the argument behind it is cogent or even just funny, the memes may provoke other retail investors to jump aboard.
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