Mudrick Capital Management bought 8.5 million new AMC shares for $230 million on Tuesday before later selling them at a profit.
AMC has been among the biggest gainers from a vigorous market battle since January involving both hedge funds and a new generation of social media centric small-time traders.
AMC has been among the biggest gainers from a vigorous market battle since January involving both hedge funds and a new generation of social media centric small-time traders.
Brent crude futures for June fell 33 cents, or 0.5pc, to $64.53 a barrel by 0206 GMT while U.S. West Texas Intermediate crude for May was at $61.20 a barrel, down 25 cents, or 0.4pc.
"We know that the economy is primed to begin to really accelerate in the second quarter," Kelly said. "But we haven't seen that acceleration yet so that's what we're waiting for."