AMC Leisure (NYSE:AMC) inventory is on the transfer Friday as buyers take to social media to debate current information in regards to the firm. Earlier than we get too far into this, notice that AMC is a meme inventory, which suggests it’s vulnerable to enthusiastic assist from its buyers.
AMC Inventory Buzz #1: #CitadelScandal
The primary, and certain largest, motive that AMC shareholders are excited at present has to do with a lawsuit making the rounds on Twitter (NYSE:TWTR). Customers are discussing the #CitadelScandal, which has additionally been affecting Robinhood (NASDAQ:HOOD) inventory.
This lawsuit is related to a halt in buying and selling that occurred earlier this yr. That noticed Robinhood cease buying and selling for sure meme shares that have been rallying arduous. The lawsuit claims that market manipulation was behind this.
AMC Inventory Buzz #2: Debt Compensation
Subsequent up now we have to debate AMC’s repaying its money owed. The corporate has entered into an settlement. This has it repurchasing $35 million of its 15% money / 17% payment-in-kind Toggle First Lien Secured Notes due in 2026.
Adam Aron, chairman and CEO of AMC Leisure, mentioned this in regards to the mortgage compensation.
“The repurchase of a few of our highest value debt is without doubt one of the many steps that we’re taking to optimally place AMC for the longer term. Along with decreasing our interest-bearing debt, we’re additionally utilizing our enhanced liquidity and bettering enterprise fundamentals to make significant reductions in deferred lease obligations.”
AMC inventory was up barely as of Friday morning and is up 1,804% for the reason that begin of the yr.
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On the date of publication, William White didn’t have (both immediately or not directly) any positions within the securities talked about on this article. The opinions expressed on this article are these of the author, topic to the InvestorPlace.com Publishing Tips.