AMC Gamma Squeeze: Free Popcorn Is Worth $16 Billion
Who would have thought that free popcorn could be worth $16 billion? AMC (NYSE: AMC) has had quite an eventful week, starting with a deal on Tuesday to sell Mudrick Capital 8.5 million new shares for $230.5 million. The institutional investor reportedly turned around and unloaded all of its shares on the same day after the news sent the stock higher. Mudrick now has valuation concerns, it seems.
That also means Mudrick missed out on Wednesday's epic 102% rally, which added $16.4 billion to AMC's market value and was apparently triggered by an offer of... free popcorn.
Image source: Getty Images.
Source Fool.com
