Get the latest gossip
AMC Stock Falls After Exhibitor Reveals Plan To Sell Up To 50M Shares; Investors Fume On Social Media
Shares of top movie theater operator AMC Entertainment fell 7% in early trading this morning after the company revealed a plan to sell up to 50,000 shares of stock.
Aron, who has led the company through an epic series of ups and downs through a debt crisis, the catastrophe of Covid, the meme-stock and short-squeeze mania of 2020 and 2021, has largely been viewed as a folk hero. The company, which counted China’s Wanda Group and hedge fund Silver Lake as major shareholders in past years, has been controlled by individual investors since 2021. Gill, who gained fame by helping to start the meme-stock frenzy involving AMC and GameStop, posted to his 1.6 million followers on X, formerly Twitter, a version of Time magazine’s 2006 Person of the Year cover.
Or read this on Deadline