Cineworld needed AMC’s apes
Two cinema chains embarked on aggressive global dealmaking, racked up debt then crashed into the industry-incinerating Covid-19 pandemic. Now, shares in one of them – AMC Entertainment – are up by 200% since March 2020. The other, Cineworld , is down 97% and preparing for bankruptcy, according to the Wall Street Journal. Meme-stock mania made the difference.
Cineworld needed AMC’s apes
Two cinema chains embarked on aggressive global dealmaking, racked up debt then crashed into the industry-incinerating Covid-19 pandemic. Now, shares in one of them – AMC Entertainment – are up by 200% since March 2020. The other, Cineworld , is down 97% and preparing for bankruptcy, according to the Wall Street Journal. Meme-stock mania made the difference.