The new meme stock surge is a boon for AMC as it tries to pay down a massive debt load

Can AMC Entertainment capitalize on a second meme craze? AMC Entertainment’s stock surged alongside GameStop after a well-known individual returned to the spotlight. The company has a chance to reduce its substantial debt load. CEO Adam Aron made major acquisitions, bolstering the theater network but also increasing leverage. AMC has paid down $1 billion of its debt in 2022, but still has around $4.6 billion remaining. While some debt may be renegotiated, a higher share price could secure better deals for the company. AMC recently raised $250 million in equity capital, presenting an opportunity for liquidity and debt reduction.