The extraordinary price action in GameStop, AMC Entertainment and others' shares last week is surely leading nervous CFOs all over the world to get an at-the-money rights issue signed off, in case they win the attention of Reddit's WallStreetBets crowd and can raise equity at giddy multiples. But this is like hoping for a winning lottery ticket. For firms in the most Covid-addled sectors, a private approach will be their best shot at financing a turnaround.
