AMC is capitalizing on a social media-driven stock frenzy to raise needed cash. “They’re who I work for,” CEO Adam Aron says of the theater chain’s millions of shareholders.
Adam Aron, AMC Entertainment Holdings Inc.’s chief executive, has decided to run with the meme-stock bulls who helped his company avoid bankruptcy during the pandemic., Mr. Aron has come to represent the surrealism and opportunities of modern-day trading. He is a Harvard Business School graduate now known for sharing social-media memes of Reddit in-jokes. He has traded a Chinese real-estate firm, the Dalian Wanda Group, for three million individual investors he calls his community.
through another stock sale effort, its seventh in nine months, adding up to more than $2.2 billion total since it began its stock sale efforts in August. The sale comes on the heels of a recent rally that brought AMC ’s share price to $72 from $10 in early May.in a reply to Mr. Aron’s tweet about raising capital. “Guide us to the moon!”
It was the latest twist in what has become one of the most unusual relationships on Wall Street. Mr. Aron said in an April interview that he viewed the individual shareholders as “my bosses. They’re who I work for.” Now, Mr. Aron contends with the new challenge of keeping a fragmented investor base happy amid extreme stock volatility and challenges to the movie-theater industry, including getting
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