Why Is Everyone Talking About AMC Stock?
AMC Entertainment (NYSE: AMC) stock has been in the headlines for a few months already as it has become the darling of the Reddit subgroup WallStreetBets, the group that became famous for the GameStop (NYSE: GME) short squeeze in January. Retail investors have jacked up the price, either because they love the company, or to bring further collapse to over-shorted hedge funds.
If you haven't really followed the drama or want to understand what's going on, here you go.
AMC is the largest movie theater operator in the world, with over 1,000 theaters worldwide, including the top four out of five highest-grossing theaters. It was crushed during the pandemic with theaters closures, losing almost total sales at certain times. It stayed afloat through debt and stock offerings, and when it could, developed creative solutions such as private theater rentals.
Source Fool.com
