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Sashiimi

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- SashiimiSashiimi
  ·2021-06-16
  Please like and comment for rewards!
  Tesla Bulls Look for Stock Catalysts. They Found Three.
  Weak performance from Tesla stock has bullish analysts feeling disappointed these days. They are looking for catalysts to break shares out of their recent funk.That performance is flummoxing Tesla bulls. “Let’s begin with a healthy dose of intellectual honesty on the starting point for the stock,” writes Morgan Stanley analyst Adam Jonas in a Monday evening report. He is a Tesla bull rating shares Buy. His price target for the stock is $900 a share, almost 50% higher than recent levels. “Even bu
  Tesla Bulls Look for Stock Catalysts. They Found Three.
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- SashiimiSashiimi
  ·2021-06-12
  Pls like and comment
  非常抱歉，此主贴已删除
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- SashiimiSashiimi
  ·2021-06-12
  To the moon!
  AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders
  Losses by Mudrick Capital show the risks of exposure to meme stocks. A multipronged bet onAMC Enter
  AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders
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- SashiimiSashiimi
  ·2021-06-12
  Boring weekends
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- SashiimiSashiimi
  ·2021-06-10
  Oh no
  非常抱歉，此主贴已删除
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- SashiimiSashiimi
  ·2021-06-09
  To the moon!
  非常抱歉，此主贴已删除
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- SashiimiSashiimi
  ·2021-06-08
  Please like and comment for rewards!
  非常抱歉，此主贴已删除
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- SashiimiSashiimi
  ·2021-06-08
  Spce pls crash [Sad]
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- SashiimiSashiimi
  ·2021-06-07
  Trading day again!
  2,724 评论
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- SashiimiSashiimi
  ·2021-06-04
  To the moon!
  AMC stock gains extended to 31% in premarket trading
  AMC stock gains extended to 31% in premarket trading although Mudrick sold Entire AMC Stake and Call
  AMC stock gains extended to 31% in premarket trading
  3,584 评论
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They Found Three.","url":"https://stock-news.laohu8.com/highlight/detail?id=1105892749","media":"Barrons","summary":"Weak performance from Tesla stock has bullish analysts feeling disappointed these days. They are looking for catalysts to break shares out of their recent funk.That performance is flummoxing Tesla bulls. “Let’s begin with a healthy dose of intellectual honesty on the starting point for the stock,” writes Morgan Stanley analyst Adam Jonas in a Monday evening report. He is a Tesla bull rating shares Buy. His price target for the stock is $900 a share, almost 50% higher than recent levels. “Even bu","content":"<p>Weak performance from Tesla stock has bullish analysts feeling disappointed these days. They are looking for catalysts to break shares out of their recent funk.</p>\n<p>Tesla stock (ticker: TSLA) is down about 15% year to date and off about 50% from its January 52-week high of $900.40. Tesla has ceded leadership—from a stock perspective—back to traditional auto makers: General Motors (GM) and Ford Motor (F) shares are up 45% and 70% year to date, respectively.</p>\n<p>That performance is flummoxing Tesla bulls. “Let’s begin with a healthy dose of intellectual honesty on the starting point for the stock,” writes Morgan Stanley analyst&nbsp;Adam Jonas&nbsp;in a Monday evening report. He is a Tesla bull rating shares Buy. His price target for the stock is $900 a share, almost 50% higher than recent levels. “Even bulls should admit that the rise in the stock price during the second half of 2020, while perhaps deserved in principle, was packed into a&nbsp;highly concentrated&nbsp;time frame,” he writes.</p>\n<p>Tesla shares rose 227% in the second half of 2020, buoyed by strong earnings, strong deliveries, and the stock’s inclusion in the&nbsp;S&amp;P 500.</p>\n<p>“The stock had the better part of five years-worth of performance packed into about five month,” Jonas adds. He says his clients are now looking for the next big thing that can drive the stock forward again. His ideas include capacity expansion in Texas and Germany. After that, he predicts Tesla will open up five more plants between now and the middle of this decade.</p>\n<p>Jonas is also looking for Tesla to unveil another new vehicle model. By his estimation, Tesla covers only about 15% of the total addressable market for the auto industry with its Y, X, 3, and S models. Model expansion will be a positive. That isn’t on the near-term horizon, though the company is due to deliver its Cybertruck later in 2021.</p>\n<p>Canaccord analyst&nbsp;Jonathan Dorsheimer&nbsp;is looking in a different area for a catalyst: residential solar power. Part of the reason he is bullish is that “Tesla is creating an energy brand and an Apple-esque ecosystem of products with customer focused connectivity, seamlessly marrying car, solar, and back-up power,” he wrote in a report released Sunday.</p>\n<p>Dorsheimer is bullish, but feeling a little down lately. He still rates the stock Buy, but he cut his&nbsp;price target&nbsp;to $812 from $974 in his report. Among other things, he is disappointed by battery delays. Tesla is planning to use larger battery cells that promise better range, charge time, and costs. Those batteries aren’t available yet.</p>\n<p>Looking a little further back, Goldman Sachs analyst&nbsp;Mark Delaney&nbsp;was watching Tesla’s Model S Plaid delivery event last week. The Plaid can go zero to 60 miles per hour in less than two seconds. Delaney was impressed by the technology, but pointed out the Plaid, at roughly $130,000, is a niche vehicle. He is looking for 2021 deliveries to exceed expectations. Delaney is modeling 875,000 vehicles for Tesla in 2021. The Wall Street consensus number is closer to 825,000.</p>\n<p>Delaney rates shares Buy and has an $860 price target.</p>\n<p>New production ramping up, strong deliveries, and a growing solar business is what these three will watch for in coming months. If all goes well, those catalysts should be enough to drive Tesla stock higher, as long as there is no bad news in the meantime.</p>\n<p>Tesla stock was down 3%&nbsp;to $599.36&nbsp;on&nbsp;Tuesday, and down slightly for the week.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Bulls Look for Stock Catalysts. They Found Three.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Bulls Look for Stock Catalysts. They Found Three.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 10:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-bulls-look-for-stock-catalysts-they-found-three-51623774479?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Weak performance from Tesla stock has bullish analysts feeling disappointed these days. They are looking for catalysts to break shares out of their recent funk.\nTesla stock (ticker: TSLA) is down ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-bulls-look-for-stock-catalysts-they-found-three-51623774479?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-bulls-look-for-stock-catalysts-they-found-three-51623774479?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105892749","content_text":"Weak performance from Tesla stock has bullish analysts feeling disappointed these days. They are looking for catalysts to break shares out of their recent funk.\nTesla stock (ticker: TSLA) is down about 15% year to date and off about 50% from its January 52-week high of $900.40. Tesla has ceded leadership—from a stock perspective—back to traditional auto makers: General Motors (GM) and Ford Motor (F) shares are up 45% and 70% year to date, respectively.\nThat performance is flummoxing Tesla bulls. “Let’s begin with a healthy dose of intellectual honesty on the starting point for the stock,” writes Morgan Stanley analyst Adam Jonas in a Monday evening report. He is a Tesla bull rating shares Buy. His price target for the stock is $900 a share, almost 50% higher than recent levels. “Even bulls should admit that the rise in the stock price during the second half of 2020, while perhaps deserved in principle, was packed into a highly concentrated time frame,” he writes.\nTesla shares rose 227% in the second half of 2020, buoyed by strong earnings, strong deliveries, and the stock’s inclusion in the S&P 500.\n“The stock had the better part of five years-worth of performance packed into about five month,” Jonas adds. He says his clients are now looking for the next big thing that can drive the stock forward again. His ideas include capacity expansion in Texas and Germany. After that, he predicts Tesla will open up five more plants between now and the middle of this decade.\nJonas is also looking for Tesla to unveil another new vehicle model. By his estimation, Tesla covers only about 15% of the total addressable market for the auto industry with its Y, X, 3, and S models. Model expansion will be a positive. That isn’t on the near-term horizon, though the company is due to deliver its Cybertruck later in 2021.\nCanaccord analyst Jonathan Dorsheimer is looking in a different area for a catalyst: residential solar power. Part of the reason he is bullish is that “Tesla is creating an energy brand and an Apple-esque ecosystem of products with customer focused connectivity, seamlessly marrying car, solar, and back-up power,” he wrote in a report released Sunday.\nDorsheimer is bullish, but feeling a little down lately. He still rates the stock Buy, but he cut his price target to $812 from $974 in his report. Among other things, he is disappointed by battery delays. Tesla is planning to use larger battery cells that promise better range, charge time, and costs. Those batteries aren’t available yet.\nLooking a little further back, Goldman Sachs analyst Mark Delaney was watching Tesla’s Model S Plaid delivery event last week. The Plaid can go zero to 60 miles per hour in less than two seconds. Delaney was impressed by the technology, but pointed out the Plaid, at roughly $130,000, is a niche vehicle. He is looking for 2021 deliveries to exceed expectations. Delaney is modeling 875,000 vehicles for Tesla in 2021. The Wall Street consensus number is closer to 825,000.\nDelaney rates shares Buy and has an $860 price target.\nNew production ramping up, strong deliveries, and a growing solar business is what these three will watch for in coming months. If all goes well, those catalysts should be enough to drive Tesla stock higher, as long as there is no bad news in the meantime.\nTesla stock was down 3% to $599.36 on Tuesday, and down slightly for the week.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2850,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186170932,"gmtCreate":1623481238526,"gmtModify":1631889030892,"author":{"id":"3568626113017315","authorId":"3568626113017315","name":"Sashiimi","avatar":"https://static.tigerbbs.com/cfb4827a74c92f32e435adf6eb295807","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568626113017315","authorIdStr":"3568626113017315"},"themes":[],"htmlText":"Pls like and comment&nbsp;","listText":"Pls like and comment&nbsp;","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/186170932","repostId":"2142823202","repostType":4,"isVote":1,"tweetType":1,"viewCount":1594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186144048,"gmtCreate":1623481156284,"gmtModify":1631889030902,"author":{"id":"3568626113017315","authorId":"3568626113017315","name":"Sashiimi","avatar":"https://static.tigerbbs.com/cfb4827a74c92f32e435adf6eb295807","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568626113017315","authorIdStr":"3568626113017315"},"themes":[],"htmlText":"To the moon!","listText":"To the moon!","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/186144048","repostId":"1104635261","repostType":4,"repost":{"id":"1104635261","kind":"news","pubTimestamp":1623470020,"share":"https://www.laohu8.com/m/news/1104635261?lang=&edition=full","pubTime":"2021-06-12 11:53","market":"us","language":"en","title":"AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104635261","media":"The Wall Street Journal","summary":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Enter","content":"<blockquote>\n <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>\n</blockquote>\n<p>A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p>\n<p>Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p>\n<p>The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p>\n<p>The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p>\n<p>Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p>\n<p>As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p>\n<p>Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p>\n<p>“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p>\n<p>Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p>\n<p>It was a day too late.</p>\n<p>AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p>\n<p>Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p>\n<p>The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p>\n<p>Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p>\n<p>But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p>\n<p>Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p>\n<p>Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p>\n<p>Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p>\n<p>Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest ...</p>\n\n<a href=\"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104635261","content_text":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.\nMudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.\nThe setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.\nThe development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.\nJason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.\nAs part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.\nMudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.\n“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.\nInside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.\nIt was a day too late.\nAMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.\nMr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.\nThe impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.\nMr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.\nBut distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.\nMr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.\nDay traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.\nAround that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.\nMr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1630,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186146782,"gmtCreate":1623481061146,"gmtModify":1631889030919,"author":{"id":"3568626113017315","authorId":"3568626113017315","name":"Sashiimi","avatar":"https://static.tigerbbs.com/cfb4827a74c92f32e435adf6eb295807","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568626113017315","authorIdStr":"3568626113017315"},"themes":[],"htmlText":"Boring weekends&nbsp;","listText":"Boring weekends&nbsp;","text":"Boring weekends","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/186146782","isVote":1,"tweetType":1,"viewCount":2078,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183108004,"gmtCreate":1623312522208,"gmtModify":1631889030929,"author":{"id":"3568626113017315","authorId":"3568626113017315","name":"Sashiimi","avatar":"https://static.tigerbbs.com/cfb4827a74c92f32e435adf6eb295807","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568626113017315","authorIdStr":"3568626113017315"},"themes":[],"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/183108004","repostId":"2142224250","repostType":4,"isVote":1,"tweetType":1,"viewCount":1823,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180736721,"gmtCreate":1623226324963,"gmtModify":1631889030966,"author":{"id":"3568626113017315","authorId":"3568626113017315","name":"Sashiimi","avatar":"https://static.tigerbbs.com/cfb4827a74c92f32e435adf6eb295807","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568626113017315","authorIdStr":"3568626113017315"},"themes":[],"htmlText":"To the moon!","listText":"To the moon!","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/180736721","repostId":"1147808423","repostType":4,"isVote":1,"tweetType":1,"viewCount":1709,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117555719,"gmtCreate":1623153484531,"gmtModify":1631889030950,"author":{"id":"3568626113017315","authorId":"3568626113017315","name":"Sashiimi","avatar":"https://static.tigerbbs.com/cfb4827a74c92f32e435adf6eb295807","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568626113017315","authorIdStr":"3568626113017315"},"themes":[],"htmlText":"Please like and comment for rewards!","listText":"Please like and comment for rewards!","text":"Please like and comment for rewards!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/117555719","repostId":"1154765176","repostType":4,"isVote":1,"tweetType":1,"viewCount":1912,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117552408,"gmtCreate":1623153387304,"gmtModify":1631889030967,"author":{"id":"3568626113017315","authorId":"3568626113017315","name":"Sashiimi","avatar":"https://static.tigerbbs.com/cfb4827a74c92f32e435adf6eb295807","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568626113017315","authorIdStr":"3568626113017315"},"themes":[],"htmlText":"Spce pls crash [Sad]&nbsp;","listText":"Spce pls crash [Sad]&nbsp;","text":"Spce pls crash [Sad]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/117552408","isVote":1,"tweetType":1,"viewCount":3274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114827858,"gmtCreate":1623067514074,"gmtModify":1631889030979,"author":{"id":"3568626113017315","authorId":"3568626113017315","name":"Sashiimi","avatar":"https://static.tigerbbs.com/cfb4827a74c92f32e435adf6eb295807","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568626113017315","authorIdStr":"3568626113017315"},"themes":[],"htmlText":"Trading day again!","listText":"Trading day again!","text":"Trading day again!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/114827858","isVote":1,"tweetType":1,"viewCount":2724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116278574,"gmtCreate":1622808182098,"gmtModify":1634097827036,"author":{"id":"3568626113017315","authorId":"3568626113017315","name":"Sashiimi","avatar":"https://static.tigerbbs.com/cfb4827a74c92f32e435adf6eb295807","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568626113017315","authorIdStr":"3568626113017315"},"themes":[],"htmlText":"To the moon!","listText":"To the moon!","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/116278574","repostId":"1126269956","repostType":4,"repost":{"id":"1126269956","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622620933,"share":"https://www.laohu8.com/m/news/1126269956?lang=&edition=full","pubTime":"2021-06-02 16:02","market":"us","language":"en","title":"AMC stock gains extended to 31% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1126269956","media":"Tiger Newspress","summary":"AMC stock gains extended to 31% in premarket trading although Mudrick sold Entire AMC Stake and Call","content":"<p>AMC stock gains extended to 31% in premarket trading&nbsp;although&nbsp;Mudrick sold Entire AMC Stake&nbsp;and&nbsp;Called Shares Overvalued.</p><p><img src=\"https://static.tigerbbs.com/e448fc065537b715680a70c18646e5e8\" tg-width=\"1302\" tg-height=\"663\"></p><p>Mudrick Capital&nbsp;sold all its stock in&nbsp;AMC Entertainment Holdings Inc.&nbsp;as of Tuesday, the same day the movie theater chain disclosed that the investment firm had bought $230.5 million of fresh shares to bolster its finances, according to a person with knowledge of the matter.</p><p>Mudrick no longer holds any AMC shares and sold at a profit, the person said, asking not to be identified discussing a private matter. The firm disposed of its stake after concluding that AMC’s stock is overvalued, propped up by a recent wave of day-trader enthusiasm, the person said.</p><p><img src=\"https://static.tigerbbs.com/d389ac323e1c44b06c71b87fefcdcfaa\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p>AMC jumped 23% to $32.04 at the close in New York. The shares more than doubled in May, pushing the year-to-date gain to a whopping 1,411% for the year.</p><p><b>No Lockup</b></p><p>AMC said Tuesday it sold stock to Mudrick with plans to “go on offense” for acquisitions. The agreement with New York-based Mudrick was for 8.5 million shares of common stock at $27.12 apiece. The stock purchase came with the assurance that the shares would be “freely tradable,” meaning the firm could sell the shares at any point or in any amount it chose.</p><p>Debt holders have also benefited from the recent equity rally. Some of its junk-rated second lien bonds due 2026 that were trading as low as 5 cents on the dollar in November are now close to face value, and quotes on its senior subordinated notes maturing in 2027 jumped about 4.5 cents Tuesday to almost 80 cents.</p><p>Mudrick has made big bets on AMC in the past, helping the movie theater chain as it pushed through the pandemic. In January, the firm agreed to buy $100 million of new secured bonds in exchange for a commitment fee equal to about 8 million AMC shares. The agreement also called for Mudrick to exchange $100 million of AMC bonds due 2026 for about 13.7 million shares.</p><p>Jason Mudrick previously worked at Contrarian Capital Management and founded his firm in 2009. His firm, which specializes in distressed companies, is expanding further into Europe with thetakeoverof a credit hedge fund previously run by CVC Credit Partners.</p><p>AMC has worked this year to raise cash through debt and equity deals, which helped stave off bankruptcy while its theaters were closed because of the coronavirus pandemic. Mudrick was among investors and creditors who suggested it sell more shares to pay down debt.</p><p>The most recent deal with Mudrick “will allow us to be aggressive in going after the most valuable theater assets, as well as to make other strategic investments in our business and to pursue deleveraging opportunities,” AMC Chief Executive Officer Adam Aron said in a statement disclosing the share sale.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC stock gains extended to 31% in premarket trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC stock gains extended to 31% in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-02 16:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>AMC stock gains extended to 31% in premarket trading&nbsp;although&nbsp;Mudrick sold Entire AMC Stake&nbsp;and&nbsp;Called Shares Overvalued.</p><p><img src=\"https://static.tigerbbs.com/e448fc065537b715680a70c18646e5e8\" tg-width=\"1302\" tg-height=\"663\"></p><p>Mudrick Capital&nbsp;sold all its stock in&nbsp;AMC Entertainment Holdings Inc.&nbsp;as of Tuesday, the same day the movie theater chain disclosed that the investment firm had bought $230.5 million of fresh shares to bolster its finances, according to a person with knowledge of the matter.</p><p>Mudrick no longer holds any AMC shares and sold at a profit, the person said, asking not to be identified discussing a private matter. The firm disposed of its stake after concluding that AMC’s stock is overvalued, propped up by a recent wave of day-trader enthusiasm, the person said.</p><p><img src=\"https://static.tigerbbs.com/d389ac323e1c44b06c71b87fefcdcfaa\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p>AMC jumped 23% to $32.04 at the close in New York. The shares more than doubled in May, pushing the year-to-date gain to a whopping 1,411% for the year.</p><p><b>No Lockup</b></p><p>AMC said Tuesday it sold stock to Mudrick with plans to “go on offense” for acquisitions. The agreement with New York-based Mudrick was for 8.5 million shares of common stock at $27.12 apiece. The stock purchase came with the assurance that the shares would be “freely tradable,” meaning the firm could sell the shares at any point or in any amount it chose.</p><p>Debt holders have also benefited from the recent equity rally. Some of its junk-rated second lien bonds due 2026 that were trading as low as 5 cents on the dollar in November are now close to face value, and quotes on its senior subordinated notes maturing in 2027 jumped about 4.5 cents Tuesday to almost 80 cents.</p><p>Mudrick has made big bets on AMC in the past, helping the movie theater chain as it pushed through the pandemic. In January, the firm agreed to buy $100 million of new secured bonds in exchange for a commitment fee equal to about 8 million AMC shares. The agreement also called for Mudrick to exchange $100 million of AMC bonds due 2026 for about 13.7 million shares.</p><p>Jason Mudrick previously worked at Contrarian Capital Management and founded his firm in 2009. His firm, which specializes in distressed companies, is expanding further into Europe with thetakeoverof a credit hedge fund previously run by CVC Credit Partners.</p><p>AMC has worked this year to raise cash through debt and equity deals, which helped stave off bankruptcy while its theaters were closed because of the coronavirus pandemic. Mudrick was among investors and creditors who suggested it sell more shares to pay down debt.</p><p>The most recent deal with Mudrick “will allow us to be aggressive in going after the most valuable theater assets, as well as to make other strategic investments in our business and to pursue deleveraging opportunities,” AMC Chief Executive Officer Adam Aron said in a statement disclosing the share sale.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126269956","content_text":"AMC stock gains extended to 31% in premarket trading although Mudrick sold Entire AMC Stake and Called Shares Overvalued.Mudrick Capital sold all its stock in AMC Entertainment Holdings Inc. as of Tuesday, the same day the movie theater chain disclosed that the investment firm had bought $230.5 million of fresh shares to bolster its finances, according to a person with knowledge of the matter.Mudrick no longer holds any AMC shares and sold at a profit, the person said, asking not to be identified discussing a private matter. The firm disposed of its stake after concluding that AMC’s stock is overvalued, propped up by a recent wave of day-trader enthusiasm, the person said.AMC jumped 23% to $32.04 at the close in New York. The shares more than doubled in May, pushing the year-to-date gain to a whopping 1,411% for the year.No LockupAMC said Tuesday it sold stock to Mudrick with plans to “go on offense” for acquisitions. The agreement with New York-based Mudrick was for 8.5 million shares of common stock at $27.12 apiece. The stock purchase came with the assurance that the shares would be “freely tradable,” meaning the firm could sell the shares at any point or in any amount it chose.Debt holders have also benefited from the recent equity rally. Some of its junk-rated second lien bonds due 2026 that were trading as low as 5 cents on the dollar in November are now close to face value, and quotes on its senior subordinated notes maturing in 2027 jumped about 4.5 cents Tuesday to almost 80 cents.Mudrick has made big bets on AMC in the past, helping the movie theater chain as it pushed through the pandemic. In January, the firm agreed to buy $100 million of new secured bonds in exchange for a commitment fee equal to about 8 million AMC shares. The agreement also called for Mudrick to exchange $100 million of AMC bonds due 2026 for about 13.7 million shares.Jason Mudrick previously worked at Contrarian Capital Management and founded his firm in 2009. His firm, which specializes in distressed companies, is expanding further into Europe with thetakeoverof a credit hedge fund previously run by CVC Credit Partners.AMC has worked this year to raise cash through debt and equity deals, which helped stave off bankruptcy while its theaters were closed because of the coronavirus pandemic. Mudrick was among investors and creditors who suggested it sell more shares to pay down debt.The most recent deal with Mudrick “will allow us to be aggressive in going after the most valuable theater assets, as well as to make other strategic investments in our business and to pursue deleveraging opportunities,” AMC Chief Executive Officer Adam Aron said in a statement disclosing the share sale.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":3584,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":false}