AMC Entertainment CEO Adam Aron released his stock ownership on Twitter this week.
The theatre chain leader now owns a total of 2,355,806 shares of AMC Entertainment stock.
Adam Aron had sold millions of AMC shares leading to the end of the year in 2021, a plan he had advised shareholders many months prior in advance.
The CEO said he never sold shares in his time running the company before.
And now he wants to give some of his wealth away.
Welcome to Franknez.com – I want to go over the latest AMC market news with you today. Despite news of conflict around the world, here’s some positive things going on with AMC Entertainment.
Let’s dive right into it!
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AMC Entertainment CEO increases AMC position
When AMC’s CEO Adam Aron was selling shares last year corporate media was running amuck.
Every platform run by News Corp. was attacking AMC’s CEO and mocking the retail community for his decision.
Now that Adam Aron has increased his position in AMC, no one is covering it.
He stated on Twitter that his ownership has risen to 793,974 shares plus 1,561,832 granted but unvested shares, totaling 2,355,806 shares.
“A forceful incentive to do what is best for you and all AMC shareholder” – Adam Aron.
Adam Aron is leading shareholder through example as retail investors continue to buy and hold AMC stock.
Short sellers and corporate media with ties to hedge funds, market makers, and banks have negatively impacted AMC’s share price.
Now the DOJ and SEC are working together to regulate unfair practices in the market.
Other recent institutions buying AMC stock
The largest pension in America increased their stake in both AMC and GameStop.
The institution now owns a total of 619,400 shares of AMC and 85,400 shares of GameStop.
Rentech’s most recent filing on the other hand shows the company has been loading up on AMC Entertainment stock all year since the second quarter of 2021.
The financial institution is run by world class mathematician Jim Simmons.
Retail investors are currently weary of financial institutions buying AMC and GME stock wondering whether they’re lending the shares or going long.
If they’re being lent out, short sellers are paying a fee to borrow them and eventually have to be bought back.
On the contrary, if institutions are going long this is very bullish considering how much upside potential these heavily shorted stocks have.
AMC’s and GameStop’s reported short interest are both approximately around 20%.
This is more than enough buy-back power to create a short squeeze for both AMC and GameStop.
Adam Aron announced he’s donating $1 million
AMC’s CEO said on Twitter in mid-February that he’s going to be giving away $1 million of his currently owned AMC shares to respectable charities.
“I benefited greatly as retail investors have embraced AMC. That makes it time for me to step up and personally give back.” – Adam Aron
However, because not all charities prefer donations in stock, 1/3 of the $1 million will be donated in AMC stock while the remaining 2/3 will be in cash.
Will donating 333,333 shares of AMC stock affect retail?
In short, no.
At least not unless the charity cashes in the donation.
See, charities are able to receive tax-free benefits by holding the stock so there is definitely an incentive to not sell the shares.
Well done Adam Aron.
How are you feeling about Adam Aron?
Adam Aron is known for saving the Norwegian Carnival Cruise Line when it came near bankruptcy.
He is also co-owner of the Philadelphia 76ers and was hailed by Newsweek for transforming the ski-industry during his time at Vail Resorts.
Now he’s embraced the culture and retail community who helped save AMC Entertainment from the pandemic that disrupted the movie theatre industry and the world.
How is Adam Aron doing as AMC’s CEO and President and does the media give him enough credit?
Leave a comment below.