Adam Aron announced on Twitter AMC had received free shares of National CineMedia.
Barrons, a news site owned by News Corp. falsely claimed AMC purchased the stock of a failing company.
Shares rose for both AMC and NCMI stock on Wednesday.
The CEO stated the shares came to AMC because they’ve grown their circuit by continuously adding theatres last year.
AMC owns approximately 6 million shares of National CineMedia now.
National CineMedia is an American cinema advertising company.
NCM displays ads to U.S. consumers in movie theaters, online and through mobile technology.
The advertising industry is a huge industry.
Perhaps AMC begins to create a new revenue stream through the use of ads in their cinemas.
Other recent AMC news and updates
The movie theatre chain had incredible Q1 earnings results this year and also beat every quarter in 2021.
The company also acquired a 22% stake in Hycroft Mining (HYMC) in March as well as several movie theatres not only last year but this year too.
AMC Perfectly Popcorn brand is on schedule to sell across grocery stores, malls, and other retail stores by the end of 2022.
Adam Aron teased shareholders could see a stock dividend by the end of 2023.
AMC stock is currently on a downtrend as the SPY pulls the entire market with it despite positive news and fundamental improvements.
Shareholders continue to buy and hold the stock as they look to squeeze shorts from their positions this year.
The battle in the market continues.
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