It’s like the Sopranos... it’s over

[The beef 675] [I'm an image] “Well now I kind of fell bad for sneaking in candy all those years...” - Jason Hey there carnivores, Markets were up big on Wednesday on better than expected job data. And today we’re talking about AMC’s impending doom. Keep raging, Jeff & Jason [Image] [I'm an image] Roll Credits Get your (overpriced) popcorn and ice cream of the future ready... AMC, the world’s largest movie theater chain, issued a filing with the SEC yesterday outlining concerns that it might not have enough cash to stay in operation this year after shuttering [its 661 US theaters]( due to coronavirus. The preferred venue of middle-schoolers copping their first OTPHJ secured some debt financing back in April, that it thought would last until Thanksgiving. [So that was a f*cking lie](. Turns out the movie theater is burning cash at an alarming rate thanks to the shutdown. The company had $718M on hand as of April 30, according to the filing. Sneak peek The docs also included a preview of Q1 earnings and let’s just say, “you should save yourself the price of admission.” AMC expects a loss [between $2.1 to $2.4B]( for the three-month period ended March 31, and revenue for the quarter to be around $945M, down from $1.2B for the same period one-year prior. Fun fact: those abysmal results only represent a two-week shutdown at the end of March. Q2 [is going to be even worse]( as the theater is “generating effectively, no revenue.” Their words, not mine. Even worse, Universal’s successful release of “Trolls World Tour” straight to streaming could be a sign that moviemakers (and goers) aren’t exactly in a rush to get back into theaters. Despite a future that's shaping up to be more of a horror flick than a feel good story, AMC’s stock actually rose 5% on the announcement. Investors were stoked to hear about the 12% interest rate it secured on its debt. No, seriously. The bottom line... But it isn’t just the big screen that’s taking a beating... The small (like… really small) screen isn’t fairing much better. Quibi, the ten-minute-or-less, mobile-first streaming platform appears to be on life-support. The new streaming service [asked its executives]( to take a 10% pay cut yesterday, as the company has struggled to gain footing in the oversaturated streaming market. You know, the one with HBO Max, Netflix, Hulu. Peacock...do we need to go on? [Image] Last Week...Jason Bond Delivered 4 Out of 4 Winners In His Monday Movers Service [Alternate text]( His Latest Alert Drops Tomorrow [Don't Miss Out]( [I'm an image] ☑️Welcome to the show. Warner Music Group flew to the top of the charts after going public on Wednesday. Shares [rose 20%]( during market hours, valuing the company at $15.4B. And how much of that do the artists get? Music labels have benefitted from the rise of Spotify and Apple, which helped bolster declining sales by paying out royalties. Warner priced 77M Class A shares at $25 each on Wednesday. ☑️Pay to (not) play. Evercore Partners is taking an innovative approach to hiring... [paying]( incoming junior bankers up to $25k to not show up to work. Employers everywhere should take note. The move comes as coronavirus is keeping employees out of the office. But rather than have them start remotely, Evercore would just like to cut a check. If incoming bankers defer their start to January, they get $15k, and if they wait until next summer they get the full $25k. More time off for more money? That's what we call in the biz a no-brainer. ☑️Agree to disagree. Russia and Saudi Arabia have finally [come to an agreement]( to reduce oil production. Both countries signed an agreement to extend production cuts through the end of July. And if these two can agree on something, we all can find a middle ground. Despite the rivals settling their dispute, the move could be negated if Iraq, Nigeria, and the rest of OPEC+ don’t agree to cut enough barrels. They’d need to make up for the fact that not every country cut the necessary 9.7M barrels per day that OPEC was seeking amid the coronavirus demand crash. ☑️Charged up. FedEx will [add surcharges]( to some shipments within the US, as it struggles to offset rising costs that come with increased orders during coronavirus. As more shipments are ordered to homes, FedEx is following in the footsteps of UPS by adding surcharges to help add to its bottom line. On June 8th, the parcel shipping company will add a 30 cent surcharge to all packages being delivered to homes. So pretty much all of them, huh…? The senders will bear the brunt of the charges, with those sending more than 40k packages a week being required to pay if shipping volumes are more than 120% of the shippers average volume in February, which was the last standard month before coronavirus made everyone HSN fiends. I still don’t forgive FedEx for stranding Tom Hanks on that desert island. RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 Neither Raging Bull nor RagingBull.com, LLC (publisher of Raging Bull) is registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. Past performance is NOT indicative of future results. 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