Daily Discussion Thread Part 6 for January 28, 2021

AM. is one of the many stocks that have been swept up in the short squeeze in shares of videogame retailer GameStop, which has skyrocketed more than 1,600% in the past two-plus weeks amid support from investors on Reddit’s WallStreetBets message board.

AMC took advantage of the steep rise in its share price by opportunistically tapping equity and debt markets, raising another $917 million this week that Chief Executive Adam Aron described as the sun shining on AMC.

“I have 917 million reasons to be a smiling man,” Aron told MKM analyst Mike Hickey. “It gets us deep into 2021. With any kind of partial recovery of the movie theater industry, this will get us all the way through 2021. Imminent bankruptcy is completely off the table. We believe we have the runway we need to get through this pandemic.”

WallStreetBets saved AMC.

/r/wallstreetbets Thread