(Bloomberg) — After weeks of profiting from the stock and debt of AMC Entertainment Holdings Inc., hedge fund Mudrick Capital Management ended up with a 5.4% loss after a derivatives bet went haywire. The fund, which specializes in distressed debt, suffered the losses on AMC after day traders pushed the movie theater’s shares up as much as 127% on a single day, derailing call options Mudrick had sold on AMC shares to hedge exposure to the company, according to a person with knowledge of… Source link
Read More »Mudrick’s AMC Bet Backfires After Meme Frenzy Wrecks Hedges
