AMC
AMC is no longer simply a "can it survive?" story. It increasingly looks like a "can the operating recovery become strong enough to repair the balance sheet without destroying per-share value through dilution?" story.
There are genuine positive developments: record Q2 revenue/adjusted EBITDA, sharply improving recent attendance, higher revenue per patron, substantial cash, and debt maturities pushed farther into the future. �
AMC Entertainment Holdings, Inc. +1
But there are also unusually large risks for common shareholders: heavy leverage, expensive debt, negative book equity, continued net losses, and major historical/potential dilution.
For due diligence, those factors make future cash flow, debt reduction and share count more informative than simply asking whether the 2027–2028 movie slate will be strong..... BULLISH