Mudrick Capital dumped millions of AMC shares the same day the stock sale was disclosed, though the retail-trader favorite continued its rally.
Retail traders sent the stock to an all-time high Wednesday even after Mudrick Capital dumped its shares.
Mudrick Capital had purchased 8.5 million AMC shares for $27.12 apiece. News of the sale sent AMC stock soaring early on Tuesday.
"With our increased liquidity, it is time for AMC to go on the offense again," CEO Adam Aron said about its fundraising deal with Mudrick Capital.
Silver Lake Group made “the trade of a lifetime” on AMC Entertainment, according to one hedge fund manager. Another firm, Mudrick Capital, made a similarly successful wager earlier this month. The two firms were able to convert distressed debt into equity in AMC after Wednesday’s share-price jump. “The market did […]