Let the Apes Have Wall Street
Matt Taibbi, 10 June 2021
The much-publicized war over “meme stocks” drags a longstanding Wall Street ripoff out of the shadows, to hilarious results
On CNBC’s Fast Money last week, anchor Melissa Lee appeared to mention the unmentionable. She was talking with Tim Seymour, CEO of Seymour Asset Management, who made offhand mention of the hedge funds shorting now-infamous stocks like AMC and GameStop. “Look, there are a lot of short sellers out there who have been borrowing stock they didn’t have,” Seymour said.
“Naked shorts, yeah,” said Lee.
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AMC Entertainment Is Selling $230 Million in Stock to Finance Acquisitions
Rich Duprey, 01 June 2021
AMC Entertainment Holdings (NYSE:AMC) is going on the offensive, selling over $230 million worth of stock to hedge fund operator Mudrick Capital Management at a premium so it can use the proceeds to make acquisitions.
The theater operator is selling 8.5 million shares to the private equity firm at a price of $27.12 per share, a nearly 4% premium to Friday’s closing price of $26.12 per share. It says it intends to make “value creating acquisitions of additional theatre leases, as well as investments to enhance the consumer appeal of AMC’s existing theatres.” It may also reduce debt with the money. Continue reading “Article: AMC Entertainment Is Selling $230 Million in Stock to Finance Acquisitions”