New York (CNN Business) Movie theater chain AMC ( AMC ) was a darling of the meme stock crowd in 2021, soaring nearly 1,200% last year thanks to love from rowdy Reddit fans. He noted that the company "took on debt at high interest rates to survive" in 2020 and early last year. JUST WATCHED Fund manager says meme stock phenomenon is not a fad Replay More Videos ... MUST WATCH Fund manager says meme stock phenomenon is not a fad 01:58Resolving to refinance could make a big difference in the bottom line for AMC. To that end, AMC shares were down more than 1% Monday despite Aron's tweets. Shares of rival movie theater chains Cinemark CNK IMAX IMAX Meanwhile, the pandemic has weighed on the industry.Shares of rival movie theater chainsandboth finished lower in 2021 as overall US box office returns remained about 60% below 2019 levels, according to figures from Box Office Mojo.

Source: CNN January 04, 2022 07:18 UTC