I'm sorry, these two companies can't be equated. 5 million wont even be a dilution, I was trying to be fair. These are a portion of the shares they bought in 2019 during the early turnaround phase.
GameStop Buys Back a Crazy Amount of Stock | The Motley Fool
Including the 5 mil this would be 8 mil lf these 20.
I dont think you're grasping just how much more 250mil+ shares is than 5 million. The "only" 45 million shares AA promised issue is the size of the GME free float. Even if HF shorted every AMC share in January, the company issued double a month later and gave themselves bonuses.
These companies are not the same.