AMC Theatres is rewarding the retail investors who rallied to support the exhibition giant when it was laboring under debt and COVID closures, lifting its share price at a critical juncture.On Thursday, the company announced that it will give a special dividend to investors of one AMC preferred equity unit for each of AMC Class A common stock. With a wink and a nod, the company plans to list these units on the New York Stock Exchange under the symbol...
AMC Entertainment
Adam
Aron
Chairman / CEO / President
After being rescued from bankruptcy by retail investors who caused AMC Theaters stock to shoot up 120% in one day to an all-time high of $70 per share in June 2021, Aron enthusiastically embraced AMC’s internet popularity in 2022. He became a regular poster on Twitter, sharing everything from personal-appearance photos to silly memes featuring his image. He also used it as a forum to explain and explore more serious corporate matters with his more than 280,000 followers, whether it be the possibility of adopting a four-day work week, a partnership that would have created a perks program for Disney+ subscribers or his controversial decision to sell several batches of AMC Preferred Equity Units in an effort to pay down the company’s $5.4 billion debt. One deal he did strike: Zoom Rooms, aka spaces for Zoom-powered conferences and events to be tested at select theaters.