AMC Seizes Rally To Shed Debt; GME, Meme Stocks Reverse Lower

Meme stocks reversed sharply lower early Wednesday as GME stock and AMC shed some gains from the week's massive rally. Meanwhile, AMC moved to use the gains to scratch off more debt.X AMC Theaters (AMC) on Wednesday said it entered a private debt/equity swap agreement to exchange 23.3 million shares of newly-issued stock in exchange for $163.9 million worth of company bonds due in 2026. The shares were issued at an average price of$7.33 per share, according to the filing. The deal is part of a larger effor ...