The world's largest movie theater chain AMC Entertainment (NYSE:AMC) stock has recovered in recent weeks to being down just (-17%) for the year. The pandemic put the movie theater industry on the edge as the epicenter industry faced many bankruptcies with smaller theaters, independent theaters and Arclight. AMC was saved from the brink of bankruptcy thanks to the meme stock momentum spawned by the infamous GameStop (NYSE:GME) short squeeze of 2021. AMC CEO Adam Aron attributed the miraculous run in its stock to its legion of small investors known as Apes. He painted the stock rally as a movement for the little guy against the big evil hedge funds. Meanwhile, they managed to raise over a billion dollars in capital by selling stock (and diluting the shares) to keep the Company afloat until traffic returned. It did return in the form of 45 million tickets sold in its recent quarter as metrics improved across the board, except for the debt situation.
