AMC stock nearly doubles — but hedge fund has ‘no regrets’ about selling
NY Post
Shares of AMC Entertainment nearly doubled on Wednesday — but Mudrick Capital, which liquidated a $230 million position in the movie exhibitor a day earlier, isn’t eating its heart out, sources told The Post.
Even as the stock doubled to $62.55 — up 95 percent from the previous day’s close of $32.04 — people close to the hedge fund shrugged it off. One insider said of the brief flirtation with AMC stock, “It’s history,” adding that there were “no regrets.” That’s despite the fact that investors in Mudrick — who on Tuesday made a quick, relatively modest profit on a chunk of 8.5 million shares the fund had bought from the company in a secondary offering — could have made hundreds of millions of dollars staying in the stock for an extra 24 hours.
Another one bites the dust. Domino’s, the nation’s largest pizza dining chain, joins the ranks of pizza giants whose franchisees have filed for bankruptcy, leaving many SoCal locations in major limbo.
Dana Walden is unifying Disney’s film, television, streaming and gaming under one roof days before a new CEO takes the reins.
Nvidia said the revenue opportunity for its artificial intelligence chips may reach at least $1 trillion through 2027, as the company outlined a strategy to compete more aggressively in the fast-growing market for running AI systems in real time.
Saks Global — owner of luxury stores including Saks Fifth Avenue and Neiman Marcus — is cutting over 1,200 jobs as it shutters more than a dozen locations nationwide following its bankruptcy filing earlier this year.
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Amazon has been signaling that it wants a piece of the Saks empire — including possibly buying it outright — even as its prospects to break into the luxury market have been complicated by its controversial role in the retailer’s bankruptcy, The Post has learned.
The founder of a Vermont-based whiskey brand wants to give away a college campus that he bought during the pandemic — on the condition the new owner shares his vision for “the revival of our country and our civilization.”
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At the start of his term in January, Mayor Mamdani had the Big Apple’s lenders in his corner — despite his plans to remake the Big Apple economy under his socialist agenda.
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Two Live Nation employees bragged about slapping customers with exorbitant fees at the entertainment giant’s venues, saying “these people are so stupid” that “I almost feel bad taking advantage of them,” according to court documents released late Wednesday.
Oil went on an unprecedented roller coaster ride at the start of the week, with the price surging more than 30% to near $120 a barrel late Sunday – only to erase all of those gains just hours later.