Playing a role: The involvement of Mudrick has been pivotal to the survival of AMC over the past year. Current trading pegs AMC’s market valuation at more than US$16bil. — AP
NEW YORK: Even before Reddit day traders pushed AMC Entertainment Holdings Inc’s stock up 1,400% this year, Jason Mudrick had been telling the company it should take advantage of the wild rally by selling stock to stay in business.
Now Mudrick has helped AMC do just that, effectively bankrolling one of the company’s biggest equity sales by purchasing US$230mil (RM949mil) of shares – and then promptly dumping them in the open market for a tidy profit.
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