Opendoor Did Some Warrants
Also honest pitching services, the Metsera conclusion and elite Liar’s Poker.
Normal shareholders of normal companies want the stock to go up. Shareholders of meme stock companies want that, but they also want something else. The additional thing that they want can perhaps be labeled “fun,” and it comes in various forms. AMC Entertainment Holdings Inc. was a big and self-conscious meme stock, and it amused its shareholders by giving them popcorn and buying a gold mine and having its chief executive officer do a YouTube interview with no pants on. Those techniques are not in the corporate finance textbooks, but they made sense in AMC’s situation. If AMC’s “Apes” (as its retail shareholders called themselves) were engaged and entertained, they would buy the stock, and the stock would go up, and AMC would be able to clear out its debts and stabilize its financial position. So, no pants.
Is there some more general approach? Popcorn will not make sense for every company, and not every CEO is naturally entertaining on social media. But that’s okay. Most of what makes a meme stock fun is: