AMC Entertainment has 4.1 million individual shareholders; Stock Dips – Deadline

AMC Entertainment has 4.1 million individual shareholders, the company announced today, as it heads towards an annual meeting in late July where all will be eligible to stand and vote on whatever is in order. of the day after spending months increasing the stock on the investment chat. rooms.

“The number of investors wishing to own a portion of AMC continues to increase,” CEO Adam Aron said in a statement. He said more than 80% of AMC’s shares are held by a large base of retail investors – which is highly unusual for large state-owned companies – with an average holding of around 120 shares.

“Some hold more and some hold less, but every shareholder is important to AMC. Each shareholder has an essential role to play in AMC’s future by making their voice heard by voting at our next General Meeting. By voting in favor of the proposals, together we can help position AMC, in its 101st year of activity, for continued success over the next century, ”he said.

AMC Entertainment Raises $ 587.4 Million From Sale Of 11.6 Million Shares As Scorching Shares Cool – Update

AMC shares fell from a low of less than $ 2 in 52 weeks to a high of nearly $ 73 as retail investors on the StockTwits chat rooms at Reddit’s WallStreetBets poured rain. love about the business, hatred towards institutions seen as bypassing action and adoration towards Aron, who has been looking at the phenomenon in a major way.

Shares fell on Wednesday, closing around 10.4% at $ 49.34. Wall Street analysts consider the steroids share price to be utterly divorced from the company’s financial position, which is still recovering, although much is improving. SEC Chairman Gary Gensler said today he has asked agency staff to review a variety of issues and stock trading rules, which are closely watched amid the wild swings so-called memes actions like AMC, GameStop and a handful of others.

The new head of the stock market monitoring agency did not name names but appeared to call so-called market makers like Citadel Securities LLC and Virtu Financial who pay fees to retail brokers to execute orders for customer transaction.

“Brokers profit when investors trade,” Gensler told the Piper Sandler Global Exchange & FinTech conference.

AMC worked the rise in stocks to raise funds by issuing stocks and selling them at inflated prices. Aron said he would use the latest cash injection for acquisitions, including ArcLight Cinemas and Pacific Theaters, where the chain is in talks with the owners.

But the stock sale angered some retail investors who took to social media, saying they didn’t want their stock positions diluted and worried that additional stocks could help short sellers cover their positions.

America’s largest exhibitor will issue a revised proxy on June 15 with the agenda for its annual meeting, set for July 29. He should seek permission to sell more shares. There is also usually a vote on the compensation of the CEO (non-binding) and on all the proposals put forward by the shareholders.

Last week, in a brilliant marketing stunt, Aron invited them all to a dedicated page on the company’s website where they could join the AMC Stubs loyalty program and get free popcorn. He tweeted over the weekend that as of Saturday more than 100,000 retail investors had joined Stubs.

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