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AMC Entertainment Embraces Retail Investors With New Connect Platform – Deadline

AMC Entertainment shares hit a new all-time high on Wednesday, hitting $ 41.95, well above a previous 52-week high of $ 36 since the start of this year, as retail investors continued to s ‘accumulate.

The action has been tearing up for weeks at a love party with individual traders that began in January. It started off as an addition to the frenzy surrounding GameStop, but escalated on its own, fueled by the company and its CEO Adam Araon. AMC this morning announced an unusual program called Investor Connect to communicate directly with this mass of individual investors in the United States who now own more than 80% of its shares.

“Many of our investors have shown their support and confidence in AMC. We intend to communicate with these investors often and from time to time offer them special benefits in our theaters. We start off with a big free popcorn on us when they attend their first movie at an AMC theater this summer, ”said CEO Adam Aron. “After all, these people are the owners of AMC, and I work for them.”

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The exhibitor called AMC Investor Connect an “innovative and proactive communication initiative”, which it is. This will put AMC in direct communication “with its extraordinary base of enthusiastic and passionate individual shareholders to keep them up to date with important company information and to provide them with special offers.”

Over the past few months, and as former majority shareholder Wanda Group left the company, AMC has seen its retail shareholder base grow significantly. “With this significant number of retail shareholders, AMC is taking a revolutionary new approach to investor relations and investor communications,” the company said.

Aron added, “During my tenure of more than five years as CEO of AMC, I have been very proud of the relationships I have forged with the owners of AMC. With AMC Investor Connect, this relationship-building effort will continue at a steady pace, even though our shareholders now number in the millions. “

Starting today, AMC said, shareholders can sign up to receive special offers and investor updates by registering on the company’s investor relations website. Investors who sign up will receive their first big free popcorn usable this summer when they attend a movie at an AMC theater in the United States. The offer will be available on their AMC Stubs rewards account.

AMC shares rose from a 52-week low of less than $ 2 to a high of over $ 36 as retail investors on social media discussion boards urged to buy and hold stocks at levels well above the price targets set by Wall Street analysts based on the company’s fundamental business and outlook.

The country’s largest exhibitor has weathered the pandemic with closed cinemas and low cash flow. But after rounds of fundraising, the industry is improving, with a strong box office this weekend and retail investors have played a key role in supporting the company’s share price in recent months. .

Yesterday, AMC said it raised $ 230 million in a stock sale and marked a new era, that it will use the money to “go on the offensive” and pursue expansion opportunities, including through talks with the owners of theaters operated by Arclight and Pacific Theaters.

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