AMC Theatres

Portrait for @christoph
by @christoph
2021-01-28T22:00:02+00:00
Business • Markets
Shares in GameStop have risen more than 1,900% this year, as Reddit traders retaliate against Wall Street funds
Shares in GameStop have risen more than 1,900% this year, as Reddit traders retaliate against Wall Street funds
Credit: Ser_Amantio_di_Nicolao / via Wikimedia Commons (Creative Commons Attribution ShareAlike 3.0)

Since January 1, despite no real change in the underlying business, GameStop's share price has surged 1,915 per cent.

Shares of video game retailer GameStop and movie theater giant AMC Entertainment soared to astronomical levels Wednesday as an apparent swarm of ordinary investors, spurred on by a Reddit message board, took on big Wall Street funds that had bet the stock prices would fall.

The GameStop and AMC price surges were so dramatic that trading for both companies was temporarily halted by the stock exchanges to temper volatility.

Portrait for @ericof
by @ericof
2020-10-14T05:00:02+00:00
Arts, Entertainment, Culture • TV & Movies
AMC Theatres says it's running out of money by the end of the year
AMC Theatres says it's running out of money by the end of the year

AMC Theatres, the world’s largest movie theatre chain, announced Tuesday that its cash resources "would be largely depleted by the end of 2020 or early 2021."

The company has reopened more than 80% of its US cinemas since March, but the lack of a vaccine and with few new movies to show, the attendance has been abysmal -- a decline of 85% compared to the same period last year.

AMC said it has two ways out of its cash crisis: Either more customers need to buy tickets, or it will have to find new ways to borrow money.