AMC Entertainment Has Bigger Ambitions Than Just Screening Movies
AMC Entertainment (NYSE: AMC) CEO Adam Aron said in light of how well his investment in gold and silver miner Hycroft Mining (NASDAQ: HYMC) was received by the market, he's going to use the war chest accumulated during the meme stock trading frenzy last year to engage in more merger and acquisition (M&A) activity.
He told Reuters, "Transformational M&A is mandatory. Our shareholder base has given us capital to deploy with the clear expectation that we are ... going to do exciting things with the money they entrusted to us."
Hycroft Mining cost AMC $28 million for a 22% stake in the business, and with $1.8 billion in liquidity burning a hole on the cinema company's balance sheet, Aron has a lot of room to move to make dozens, even hundreds of new investments.
Source Fool.com
