Sony potentially has a very interesting place in this new evolving market for movies.So in Animated Film News, Netflix ended up buying the distribution rights to Sony's "Connected" (Except for China.), and restoring the original name of the film to "The Mitchells vs. The Machines".
Netflix Buys Lord and Miller Cartoon Mitchells vs. Machines From Sony - Variety
Didn't see this one coming, but it's a neat move from Netflix. I'm also glad they gave the film it's original name since I'm really tired of the generic one word film titles.
AMC somehow keeps finding people to give them money. I'm not gonna complain though as long as we still have theaters around after this. The studios for the most part, even with Mulan, WW84, Soul, and the upcoming HBO Max slate, have shown incredible restraint and a real dedication to the theatrical experience in terms of Studios' upcoming slates. With the exception of WB, all studios have continued to push their movies back further so that they can recoup their investments at the box office before going to streaming.AMC Entertainment says bankruptcy is off the table after raising more than $900 million since December
Shares of AMC skyrocketed Monday after the company disclosed that it had secured enough financing to remain open and operational deep into 2021.www.cnbc.com
Looks like at least one of the big theater chains might see the other side of this.
Hopefully it's not a Bain Capital Toys R Us situation where whoever's investing in them is looking to saddle them with debt.AMC somehow keeps finding people to give them money. I'm not gonna complain though as long as we still have theaters around after this.
A lot of people are making it seem like it's the end of the world, but Wall street people throwing a fit about how their fake "economy" is being infiltrated is just hilarious to me. Hedge Funds like that suck and deserve crap like that and tbh, i'd love to see this stuff happen more often. Wall Street (but Hedge funds especially) can get too complacent and like you said, they aren't accounting for a subreddit to come knocking down their door.That hedge fund is currently down ~$13B lol. Stock trading algorithms and AIs don't try and account for a bunch of people being stupid and stubborn all at the same time so hedge funds are stuck with a bunch of short positions that are going to lose a ton of money
Couldn't happen to a better group ofblood sucking parasitespeople
A lot of people are making it seem like it's the end of the world, but Wall street people throwing a fit about how their fake "economy" is being infiltrated is just hilarious to me. Hedge Funds like that suck and deserve crap like that and tbh, i'd love to see this stuff happen more often. Wall Street (but Hedge funds especially) can get too complacent and like you said, they aren't accounting for a subreddit to come knocking down their door.
In a filing on Thursday, AMC said affiliates of Silver Lake Group, and certain co-investors elected to convert these convertible notes into shares of the Company’s Class A common stock at a conversion price of US$13.51 per share.
The conversion is expected to settle on January 29 and will result in issuance of 44.4 million shares of the company's Class A common stock.
AMC's bonds rallied sharply on the news, with a first lien 10.5% 2026 secured note climbing 6 points to trade at par, implying investors expect a full recovery on the notes. A 12% 2026 PIK toggle bond climbed as much as 12.75 points this morning to a cash price of US$75.5 and a yield of 19.472%, but last traded at US$68, up 5.25 cents on the dollar for the day.
Bless the memes, bless the stonks.So AMC has actually been smart and taken advantage of the wild week on Wall Street and their stock being built up. They were able to cut down their debt by $600M by using a stock option. Along with the $900M they already secured going forward, this is another step in helping them survive COVID.
And if i'm reading the reddit tea leaves correct, the AMC short squeeze goes into full effect Monday based on where the share price closed today.Bless the memes, bless the stonks.
Oh I do too. I have a lot of hope for Monday right now.I have quite a few shares of AMC at the moment so uh.... raise the stonks!