After warning investors they could lose all their money, AMC raises $587 million in new stock offering

CHASER. . .

All 11.5 million of the new shares were sold, raising $587 million in new cash for the company:

Update: AMC sold all 11.5M shares at an average sale price of $50.85, raising $587M in cash.

— Alex Weprin (@alexweprin) June 3, 2021

What an amazing run the company has had:

Value of $1,000 invested 1 year ago:

Dogecoin: $156,448
GameStop: $64,657
Ethereum: $11,669
AMC: $11,487
Tupperware: $6,887
Tesla: $3,410
Moderna: $3,185
Gap: $3,041
BlackBerry: $2,560
Ford: $2,515
Square: $2,504
Etsy: $2,149
Goldman Sachs: $1,866
Apple: $1,537
Disney: $1,494

— Jon Erlichman (@JonErlichman) June 2, 2021

Hey, it pays to be lucky:

AMC lost $4.6 billion last year. Revenue fell 90%. It furloughed 30,000 workers.

AMC rewarded the CEO by doubling his pay to $21 million.

Now through shear luck his fortune grew an extra $210 million because retail meme investors drove up the stockhttps://t.co/0MiRl2EFcq

— Dan Price (@DanPriceSeattle) June 2, 2021

Short-sellers hardest hit:

It is estimated that $AMC short sellers have lost over $2 Billion so far betting that the company would go into bankruptcy as a result of consumer preferences around content consumption. That is not what happened at least not yet. There is a new Sheriff in town! @ScottWapnerCNBC pic.twitter.com/bHovv49Qkf

— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) June 3, 2021

And as for arguments that these meme stocks are shaking trust in the markets, yeah, that’s not what’s going on:

Yes, bunch of screeching redditers meme-buying stocks is what will make people lose faith in the markets.

Not the gov’t printing out trillions in a year, giving to their political allies and companies they invested in, and sticking taxpayers with the bill and inflation https://t.co/OdDhD2IYPa

— Oilfield Rando (@Oilfield_Rando) June 3, 2021

***