June 4, 2021: -On Wednesday, as AMC Entertainment shares popped another 20%, the company announced new perks for its retail investors, which include a free tub of popcorn.
AMC is poised to open at an all-time high at its current premarket price of around $38 per share.
The movie theater chain says that it launched a portal on its website for individual investors. The site, requiring stockholders to self-identify and sign-up for the chain’s loyalty program, containing special offers and company updates.
AMC’s retail investors have propped up the company since January, which sends the stock up above 1,400% in the past five months. The company says that it had 3.2 million individual shareholders by March 11, who owns about 80% of the 450 million shares outstanding.
Many of them were inspired by the r/wallstreetbets Reddit page to purchase the stock. The forum selected few companies shorted by large hedge fund groups and decides to take action.
CEO Adam Aron praises these investors for their support. The company delayed its annual shareholder’s meeting by more than a month to allow these investors to attend the event and “make their important voices heard.”
Aron and AMC both are planning to donate $50,000 to the Dian Fossey Gorilla Fund, a clear nod to these new investors, calling themselves apes and refer to Aron as “Silverback.” AMC also shifts its style of communication to directly speak with shareholders via social media, includings YouTube. Aron has even taken a renewed interest in Twitter after hundreds of accounts tied to the “ape army.”
AMC Investor Connect is the coming step in connecting with these investors of the company. The platform provides shareholders with exclusive promotions, such as free or discounted items and invitations to special screenings, and direct communications with Aron.
“During my five-plus year tenure as CEO at AMC, I’ve taken great pride in the relationships I have forged with AMC’s owners,” Aron said on Wednesday.
“With AMC Investor Connect, that effort in relationship building will continue apace even if our shareholders now number in the millions. After all, these people are the owners of AMC, and I work for them,” Aron added.
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