Adam Aron just said on Twitter that he will not be selling AMC shares any time soon.
“Some of you forget that I currently own or will vest in about 3 million AMC shares and 3 million APE preferred units. That is an enormous incentive to do what is best for all AMC shareholders. I work in the best interests of AMC shareholders because I am one – and a big one!”, said the CEO.
Adam Aron made over $40 million between November 2021 to January 2022 when he sold millions of AMC shares while retail investors held.
The CEO has recently been criticized for not tackling the topic of naked shorting and dark pool trading considering AMC Entertainment has been victim to predatory short selling tactics.
However, many shareholders view the CEOs decision to freeze his pay raise this year and announcement to not sell shares as noble.
AMC finished 2022 down -84.65% after it had reached an all-time high of $72 per share the previous year.
The bull market in 2021 helped the movie theatre chain amass such a big following even as we entered a bear market in 2022.
And the apes aren’t leaving.
Where is AMC headed in 2023?
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