What was the result of the short squeezes that occurred at AMC in January 2021?
Silver Lake converted its debt holding to equity
AMC filed for bankruptcy
Wanda Group sold its shares
AMC's stock price plummeted
Answer
The short squeezes that occurred at AMC in January 2021 resulted in Silver Lake converting its $600 million debt holding into equity. This was part of a series of financial maneuvers that diluted Wanda's ownership in the company.