Retail investing met marketing genius Wednesday as AMC Entertainment devoted a new area of its website to individual investors, stoking their love, doubling the stock price and — the company hopes — inflating membership of its AMC Stubs loyalty program.AMC has about 3 million individual investors now, 80% of its shareholders base.
It was initially swept up in the GameStop-led meme-stock frenzy – retail traders who share funny videos and defiant exhortations on Reddit chatrooms and around social media to buy and hold certain stocks.
The spike in AMC helped investor Silver Lake cash out richly and allowed the struggling theater chain to raise significant cash in equity sales – including $230 million from Mudrick Capital this week.Mudrick sold
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