• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Saturday, May 17, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

AMC CEO appeals to its meme stock crowd

by Rohit Yadav
August 10, 2021
in Business, Markets, News, Tech, Trending
Reading Time: 2 mins read
0
AMC Entertainment to accept Bitcoin for tickets and concessions in the United States — CEO Adam Aron

Image Source: USA News Lab

TwitterWhatsappLinkedin

If there was any question that private investors are a formidable new force on Wall Street, AMC Entertainment (AMC) CEO Adam Aron may have just put the doubters to rest.

You might also like

Trump Administration Targets Huawei AI Chips with Global Warning

Global AI Race: UAE Invests Big in New Campus, with Trump’s Endorsement

Grok’s “White Genocide” Issue Blamed on Unauthorized Modification

Image Source: USA News Lab

The appeal

During the company’s results call on Monday, Aron made it plain that he regards retail investors as critical to the movie theatre chain’s success through his choice of words — and outright flattery.

It’s hardly unexpected, considering that AMC — which had to close all of its theatres during the pandemic’s peak last year — has benefited greatly from the meme stock craze, in which retail investors pour billions of dollars into frequently ailing businesses.

For the three months ending in June, the firm reported a deficit, although it was less than analysts predicted, and revenue exceeded expectations.

“In a nutshell, AMC smashed it in Q2,” Aron remarked on the conference, using the jargon of the Reddit audience. Aron later mentioned that AMC has adopted some of the “wonderful ideas” that private investors have “showered” on it, such as screening professional sporting events and concerts.

He responded to around a dozen queries from individual investors.

“Can you guys make the AMC mascot officially a gorilla?” Aaron inquired, echoing Reddit investors’ habit of referring to one another as “apes.” “Would AMC ever consider bringing back drive-in theatres?” Ryan wondered.

Aron, on the other hand, only fielded questions from one analyst, down from roughly six a year earlier, citing time limitations as the reason for the shortening.

The meme-stock reply

The stock rose nearly 9% in premarket trading on Monday. Following the event, AMC’s newest stockholders gushed over Aron’s performance on social media sites like Reddit. “The earnings call was a rout for Silverback Adam. If you’re “in it to win it,” you should pay attention to it “On Twitter, one observer wrote.

What this indicates is that individual investors are important, and businesses are embracing them for a reason.

Despite the fact that none of the analysts who cover the company recommend buying the stock and theatre attendance remains far below pre-pandemic levels, AMC’s stock has risen over 1,500 percent this year and it was able to raise $587 million in June as meme traders piled in, the company was able to raise $587 million in June as meme traders piled in.

What’s next?

AMC said that before the end of the year, it will begin rolling out technology that would allow moviegoers in the United States to pay for their tickets and snacks in bitcoin.

It’s also buying up American theatres and wants to establish a dozen new ones this year in the US, Europe, and the Middle East, wagering that after the pandemic passes, people will return to the movies.

“There is nothing as wonderful as viewing brilliant pictures on a big silver screen,” Aron remarked on the call, “therefore we firmly think that ours is a bright future.”

Tags: AMCAMC CEOAMC meme stockAMC stock
Tweet54SendShare15
Previous Post

Nvidia announces tiny RTX A2000 GPU featuring smaller form factor for Pc

Next Post

A compromise crypto amendment failed to make it into the final version of the bill.

Rohit Yadav

Hi! I'm Rohit, If you like reading about markets, technology and business, you've come to the right place. Catch me: [email protected]

Recommended For You

Trump Administration Targets Huawei AI Chips with Global Warning

by Sneha Singh
May 17, 2025
0
Trump Administration Targets Huawei AI Chips with Global Warning

Washington has raised the stakes in its technology battle with Beijing. The Trump administration recently warned that companies worldwide could face legal consequences for using Chinese-made AI chips,...

Read more

Global AI Race: UAE Invests Big in New Campus, with Trump’s Endorsement

by Sneha Singh
May 17, 2025
0
Global AI Race: UAE Invests Big in New Campus, with Trump's Endorsement

UAE will construct the largest artificial intelligence campus outside of the US following the sealing of a historic deal during Donald Trump's recent Middle East visit. The Abu...

Read more

Grok’s “White Genocide” Issue Blamed on Unauthorized Modification

by Sneha Singh
May 17, 2025
0
Grok's "White Genocide" Issue Blamed on Unauthorized Modification

xAI's chatbot Grok went rogue on Wednesday, repeatedly bringing up claims about "white genocide" in South Africa regardless of what users were asking. The company has now pointed...

Read more
Next Post
Senators come to an agreement on a crypto amendment to a bipartisan infrastructure plan

A compromise crypto amendment failed to make it into the final version of the bill.

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?