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Author: Jamel Gross-Cassel
Download a copy here
Few industries were hit as hard by the COVID-19 pandemic as movie theaters.[1] In 2020, AMC Entertainment (“AMC”), the nation’s largest movie theater chain, posted a staggering $4.6 billion loss. The company’s yearly revenue plummeted by 77% to $1.24 billion, including a massive 89% drop in fourth-quarter revenue.[2] The theater chain, though, was handed an unlikely lifeline – the retail investor. AMC’s stock was front and center of “meme stock mania” in 2021, while most of the country was stuck at home.[3] As a result of retail exuberance, by June 2021, AMC reached stock heights of $72.62, where just nine…