Myles Udlard on AMC Entertainment's $230 million capital raise

Q: The thing that's funny about this is they're raising cash to buy assets, to buy more of a thing that's not full already?  So we'll see how that strategy works out over the longer term.  It doesn't really matter, I guess, but if you're going to spend the cash, buy more movie theaters?

Myles Udlard: That makes sense.  They're in the movie theater business.  It goes all the way back to Hertz.  Hertz last year was being told by the market that it didn't have to file for bankruptcy and so these CEO are now looking at the meme market and they're saying, "Screw it.  I will go on offense.  The market is telling me to do that, whether it's a joke on Reddit or not."

~ Myles Udlard, "AMC higher on $230M capital raise," 3:05 mark, Yahoo Finance, June 1, 2021