Reddit Rebels' Stock Shenanigans Just Took a Heartwarming Turn

[GURPS]

AMC Theatres was just about dead as of Monday of this week. But along with GameStop and BlackBerry, Reddit’s r/wallstreetbets (WSB) targeted AMC’s stock for a revival. “We like the stock,” they said.
It worked.

[O]n Wednesday, a private equity firm named Silver Lake — and private equity firms are popularly considered the “bad guys” in this snobs-versus-slobs drama — elected to convert the corporate bonds it held into AMC Entertainment Holdings stock. Although the theater chain’s stock price has tumbled and soared since the move, the debt relief is permanent.

And

Wiping out more than half-a-billion dollars in debt, though, should take a lot of pressure off AMC in the short term. “A week ago, it was not crazy to think this company was doomed,” Bloomberg’s Matt Levine wrote on Thursday. “Now it is entirely possible that it will survive and thrive and show movies in movie theaters for decades to come because everyone went nuts and bought meme stocks this week.”

That’s thanks to a few million retail stock buyers who constantly insult themselves and swear they’re financial idiots between swearing revenge on the architects of the 2008 financial collapse.

Reddit Rebels' Stock Shenanigans Just Took a Heartwarming Turn

pjmedia.com

 

[vraiblonde]

I have this mental picture of the hedge fund crooks furiously looking for the next tanking stock these traders might latch onto.