AMC Entertainment (NYSE: AMC), the well-known theater chain, was on the ropes as a result of the pandemic. However, the company was able to sell stock, raising more than $300 million, as shares were driven higher by investors on the WallStreetBets subreddit, using the #SaveAMC. "Any talk of an imminent bankruptcy for AMC is completely off the table," said CEO Adam Aron.
On this clip from Motley Fool Live, recorded on Jan 29, "The Wrap" host Jason Hall and Fool.com contributors Danny Vena and Brian Withers discuss the theater chain's troubles and whether WallStreetBets saved AMC.
Source Fool.com