Data shows AMC insiders got rich off retail traders

Fox Business | October 12, 2022

At least some people got pretty rich from AMC’s two-year stock roller coaster, but it wasn’t the company’s super loyal, buy-and-hold investors known as the “Apes.”

A Fox Business analysis shows that company insiders such as hedge funds, private equity firms, as well as board members, top executives and other big investors in the world’s largest movie theater chain sold a staggering $888 million in stock over the past two years at prices significantly higher than they are today.

According to information from Dataroma, a website that tracks the portfolios of prominent investors and their real-time stock transactions, the most significant chunk of stock sales came from PE firm Silver Lake, hedge fund Mudrick Capital and Wanda America Entertainment, part of China-based conglomerate Wanda Group. Combined, they unloaded $782 million of stock.

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