Investment firm Silver Lake Group has made the"trade of a lifetime" on AMC Entertainment, one credit hedge fund manager told theThe trade involved Silver Lake swapping risky debt in the downtrodden theater chain for stock. Now, with AMC shares up as much as 370% this week, the wager has paid off handsomely.
Mudrick Capital is another firm that made a similar trade earlier this month. It exchanged $100 million in debt for nearly 13 million shares, which are currently worth $273 million, according to the FT report.
That's true. Look up 'AMC' under bonds here.
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I AM ALL IN BB
SAI when you control the market/ when reddit enters your market
And I am sure there are many other funds like these out there who have prospered too. And the Reddit people did exactly what they wanted them to.
I love how I had X amount worth of stock and only after the market closed the stock went way down when no public traders had a chance, then next day forced me to sell at a huge loss. Where did the difference go? That’s theft! SCAM!!! robinhood amc
They tried to eat the rich. And they made the wealthy, wealthier. Good job reddit
Why didn’t robinhoodapp stop this?