To help fend off bankruptcy, on Dec. Because AMC was so strapped for cash, Mudrick was paid a fee of 8.
There have been other winners in this mixed-up, muddled-up, shook-up world. Some are best described as vultures, a Wall Street term for the breed of investors who provide funding to distressed companies.
Foss is founder and former chairman of Credit Acceptance Corp. Silver Lake is a major investor in media and entertainment. A spokesman did not immediately return a request for comment on its AMC investment.
Jason Mudrick, chief investment officer at Mudrick Capital, told The New York Times in September that he saw little reason to let his 26 employees continue working from home. A Mudrick spokesman did not immediately return a request for comment. To those of a certain age, the GameStop frenzy recalls the frothiest days of the dot-com bubble, when millions of newbie investors got reamed.
Back then, fans of free-falling stocks used to support each other in Yahoo or Raging Bull chat rooms. It has been estimated that 10 million people opened brokerage s last year.
Many were enraged when brokerage firms imposed trading limits to contain the frenzy. Before noon on Thursday the first of what will surely be many lawsuits was filed against Robinhood Markets in federal court in Manhattan by an angry customer. Alexandria Ocasio-Cortez, a member of the House financial services committee, went to Twitter to call for a hearing.