Marathon Cashing In on AMC’s Meme-Stock Rally, CEO Richards Says

Marathon Asset Managementbought AMC Entertainment Holdings Inc. debt when it traded at a deep discount and the cinema chain’s latest meme-stock rally has only made those holdings more attractive, Chief Executive Officer Bruce Richards said on Bloomberg Television Wednesday.

The hedge fund bought senior secured AMC debt when it was changing hands for some 60 cents on the dollar and which has since rallied to more than 90 cents, Richards said. The cinema chain’s stock surge this week — sparked by the return of Keith Gill, known online as “Roaring Kitty” to social media — and subsequent equity raise ...