Tag: Adam Aron (Page 1 of 8)

Disney CEO Says Theatres Are Big Reason He’s Optimistic

Market News Daily - Disney CEO Says Theatres Are Big Reason He's Optimistic.
Market News Daily – Disney CEO Says Theatres Are Big Reason He’s Optimistic.

Disney (NYSE:DIS) CEO Bob Iger says movie theatres are a big reason he’s optimistic about the movie business today.

“People love to be entertained in theaters around the world, and it gives us reason to be optimist about the movie business,” said the Disney CEO.

AMC Entertainment (NYSE:AMC) CEO Adam Aron, who leads the world’s largest movie theatre chain in the worlds was very pleased with Mr. Iger’s words about the movie industry.

“AMC is 100% in Bob Iger’s corner, We support him and Disney with our all,” Adam Aron said on Twitter.

Today, streaming platforms are realizing they will need the movie theatre industry to succeed in the entertainment industry.

Earlier this year, Disney announced the company was planning to lay off 7,000 employees as online streaming services tanked.

Iger says he’s “targeting $5.5 billion of cost savings across the company” and that the layoffs will “help achieve this.”

“Our priority is the enduring growth and profitability of our streaming business,” Iger says.

“Our current forecasts indicate Disney Plus will hit profitability by the end of fiscal 2024 and achieving that remains our goal.”

The Dependency for Movie Theatre Premiers is Strong

In October of 2022, AMC announced its first ever Netflix showing in 200 theatres.

Glass Onion: A Knives Out Mystery starring Daniel Craig was released in the U.S. as well as the UK, Ireland, Italy, Germany, and Spain.

CEO Adam Aron stated on Twitter that success here could lead to more Netflix (NFLX) movies at AMC.

The film earned $15 million at the box office but CNBC says the showing could have made $200 million if it had been kept in theatres longer.

The sequel to Johnson’s popular “Knives Out” opened in nearly 700 theaters, the largest release of any Netflix original film to date, 200 of which were AMC Entertainment theatres.

Unfortunately for the online streaming platform, hundreds of millions of dollars were left on the table.

Box office analysts say Glass Onion could have earned much higher earnings if Netflix had opted for a traditional wide release of 2,000 to 4,000 theaters.

CNBC stated, “Netflix has backtracked on its previous policies, including by introducing an ad-supported subscription option, leading many to wonder whether the company should rethink its resistance to the traditional Hollywood movie release model as it looks for new ways to grow revenue.

“With a traditional wide release, premium screen spread, and full marketing campaign, I think ‘Glass Onion’ could have generated at least $50 million to $60 million to lead the entire market,” said Shawn Robbins, chief analyst at BoxOffice.com.

Retail Giants Invest Billions in New Movie Theatre Titles

Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) are now contributing billions of dollars to the movie theatre industry.

Amazon Studios released its first-ever original movie debuting in theatres globally on April 5th, 2023.

AIR tells the story of the game-changing partnership between Nike and a then-rookie named Michael Jordan.

So far, Amazon Studios has four original movie titles coming out with dates still to be determined.

The world’s largest online retailer aims to make between 12 and 15 movies annually that will get a theatrical release.

The movie theatre industry will also receive an additional $1 billion per year in theatrical titles from Apple.

AMC Entertainment CEO Adam Aron has said in the past that the only challenge the theatre chain currently faces is not having enough movie titles to premier.

Apple’s investment is part of the tech company’s efforts to raise its profile in Hollywood and lure subscribers to its streaming service, Apple TV+, Bloomberg reported, citing people familiar with the matter.

Bloomberg reports that Amazon and Apple must collaborate with various studios who have the knowledge of releasing films in theatres since they cannot release films in theatres on their own yet.

Wall Street is delusional to think the movie theatre industry is dead.

But I’d love to hear what you think — leave your thoughts below.

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Market News Today - Disney CEO Says Theatres Are Big Reason He's Optimistic.
Market News Today – Disney CEO Says Theatres Are Big Reason He’s Optimistic.

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Analyst Predicts AMC Revenue Will Soar This Summer

Market News Daily - Analyst Predicts AMC Revenue Will Soar This Summer.
Market News Daily – Analyst Predicts AMC Revenue Will Soar This Summer.

Paul Dergarabedian, Comscore senior media analyst predicts AMC Entertainment (NYSE:AMC) revenue will soar this summer as the industry begins to take off.

Disney’s “Guardians of the Galaxy Vol. 3” exceeded box office expectations this past weekend, securing $118.4 million domestically to bring its global total to $289.3 million.

IMAX announced it grossed $25 million from the debut — the company’s biggest global opening thus far in 2023.

Those results, on top of Universal’s “The Super Mario Bros. Movie,” which surpassed $500 million domestically, adds to early momentum heading into the summer box office season.

“I think it’s going to rival the pre-pandemic levels for summer box office,” Paul Dergarabedian, Comscore senior media analyst, told Yahoo Finance.

Dergarabedian says that upcoming films like Pixar’s “Elemental,” Disney’s “The Little Mermaid,” Universal’s “Oppenheimer,” and Warner Bros. “Barbie” as just some of the many films that will drive revenue for AMC Entertainment.

“This is just a bevy of riches on the way at the multiplex,” he said.

According to the latest data from Comscore, total domestic box office grosses have hit $2.85 billion so far this year, 23.3% below 2019’s $3.74 billion over that same time period.

The Movie Theatre Industry is Growing

Market News Daily – Analyst Predicts AMC Revenue Will Soar This Summer.

Dergarabedian argues that the industry is heading in the right direction with 30 more wide-release films slated for release this year compared to 2022: “More movies more often is my [mission] statement for the industry for 2023.”

Currently, the box office is on track to finish off 2023 above $9 billion.

“With moviegoers continuing to trend toward premium screens and concessions, it stands to reason that as volume normalizes, theater-level revenue could exceed pre-pandemic levels,” Wedbush analyst Alicia Reese wrote in a note following the report.

But Paul Dergarabedian isn’t the only one predicting strong growth for the movie theatre industry.

Bloomberg says experts are now projecting that ticket sales will be off about 15% from before the pandemic (with 15% less product) and just about every studio is ramping up output.

amazon and apple invest billions in movie theatre industry

Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) are also now contributing billions of dollars to the movie theatre industry.

“After years of negotiations and failed experiments, theater chains and movie studios have reached something of a truce.”

CNBC says this is a positive sign for the movie theatre industry, referring to Amazon’s new business venture.

“While a $1 billion annual investment for film development is on the lower end of what major Hollywood studios spend each year, it’s a positive sign for the movie theater business, which has struggled in the wake of the pandemic.”

Apple’s investment is part of the tech company’s efforts to raise its profile in Hollywood and lure subscribers to its streaming service, Apple TV+, Bloomberg reported, citing people familiar with the matter.

AMC CEO Addresses Movie Industry Critics

Market News Daily - Analyst Predicts AMC Revenue Will Soar This Summer.
Market News Daily – Analyst Predicts AMC Revenue Will Soar This Summer.

AMC CEO Adam Aron says “so-called ‘experts’ thinking streaming dooms movie theatres are so fundamentally incorrect.”

“So WRONG. Our problem is major studios released a lot fewer movies in 2021 & 2022 than in pre-pandemic years,” said the CEO.

Wall Street continues to push the short thesis on AMC, failing to acknowledge the fundamental growth of the company over the past two years.

AMC Entertainment beat Wall Street expectations for its first quarter results last Friday.

“Our results for the first quarter of 2023 represent AMC’s strongest first quarter in four full years.

We kicked off 2023 by continuing on our positive glide path to recovery, with more than a 21% growth in total revenues and a $69 million improvement in Adjusted EBITDA compared to the previous year.

This progress is a testament to the ongoing recovery in the industrywide box office, as well as AMC’s enduring commitment to the excellence and innovation as our guests enjoy a superb movie-going experience at our theatres,” said AMC CEO Adam Aron.

“All told, the first quarter North American box office easily surpassed 2022 by some 29%, totaling more than $1.7 billion.

The recovery in the European box office was even stronger in getting to pre-pandemic norms than that in the U.S.

As I have said for years, when our studio partners showcase their magical storytelling, there is robust demand to be realized at AMC theatres both in the U.S. and abroad.

We believe the first quarter of 2023 is just the tip of the iceberg for what’s to come in the remainder of the year.”

AMC stock is up nearly 41% this year-to-date, though heavy dark pool volume continues to suppress actual retail demand from reflecting on the lit exchange.

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Market News Today - Analyst Predicts AMC Revenue Will Soar This Summer.
Market News Today – Analyst Predicts AMC Revenue Will Soar This Summer.

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AMC CEO Seeks to File New Lawsuit Against Robinhood

Market News Daily - AMC CEO Seeks to File New Lawsuit Against Robinhood.
Market News Daily – AMC CEO Seeks to File New Lawsuit Against Robinhood.

AMC Entertainment (NYSE:AMC) CEO Adam Aron is seeking to file a new lawsuit against trading platform Robinhood (NASDAQ:HOOD).

Robinhood on Monday reported AMC Entertainment had filed for bankruptcy stating the following:

“This company has filed for bankruptcy. This typically happens when companies are close to running out of money or have trouble repaying their outstanding debts.”

“What the DUCK !!!!! I am getting multiple reports that Robinhood briefly posted today that AMC filed for bankruptcy.

How can companies like Robinhood do this?

So ludicrous, so wrong, so irresponsible.

On Friday, we report Q1 earnings, and will announce our sizable cash position,” said AMC CEO Adam Aron in a statement on social media.

He later wrote:

“I am so Ducking angry about this. They are either incompetent or evil, and either is absolutely inexcusable. Obviously, there is no truth to their postings. Outrageous behavior. I have already asked our lawyers if we can sue the Dastards. #IncompetentEvil”

In March, Robinhood and other brokerages reported AMC Entertainment at a $417 billion market cap and even $421 billion market cap, so this is not the first time users have reported misinformation from the platform.

Shareholders have urged the CEO for years now to look into the manipulation of AMC Entertainment stock and into ‘short and distort’ campaigns used to defame the company during its toughest years.

Robinhood Responds to AMC Bankruptcy Notice

Market News Daily - AMC CEO Seeks to File New Lawsuit Against Robinhood.
Market News Daily – AMC CEO Seeks to File New Lawsuit Against Robinhood.

Robinhood responded on the AMC bankruptcy notice after investors and the CEO raised concerns about the lucrative reporting on social media.

The following statement was released by the broker:

“On 5/1/23 at 1:45 pm ET, Robinhood experienced a technical issue leading to an incorrect banner being applied to AMC. The banner was removed at 1:48 pm ET. We apologize for this error.”

But investors now want to know the company’s process that led them to mistakenly publishing this error.

Others allege the notice was a malicious intent on the movie theatre company, just days before Q1 earnings.

For years now, Wall Street and affiliates have used media tricks to their advantage in hopes of creating panic and steering investors away from investing in the movie theater company.

Will AMC CEO Adam Aron really file a lawsuit against Robinhood?

In the past, the CEO stated the company had been in contact with the NYSE and FINRA to “look closely at the trading of the stock”, but investors have yet to be updated on any new information.

Robinhood Lawsuit News

Robinhood is currently being sued in a new class action lawsuit by Klafter Lesser LLP, Pessah Law Group, and PC and Chelin Law Firm in California.

The firms are seeking to represent investors who held call options on the Robinhood trading platform as of the close on January 27, 2021 to purchase any of the following stocks:

American Airlines Group Inc. (NASDAQ:AAL), AMC Entertainment (NYSE:AMC), BlackBerry Limited (NYSE:BB), Bed Bath & Beyond Inc. (NASDAQ:BBBY), GameStop Corp. (NYSE:GME), or Nokia Corporation (NYSE:NOK).

The latest Robinhood class action lawsuit alleges that on January 28, 2021, Robinhood prohibited purchases of the stocks underlying the affected options on its platform and also prohibited purchases of the exercise of the affected options, and only allowed the closing out of such positions.

The lawsuit further alleges that during the period January 29, 2021 through February 4, 2021, Robinhood imposed significant limits on any purchases and continued to prevent the exercise of the affected options on its trading platform.

Consequently, the value of the affected options dropped dramatically and remained suppressed throughout the month, causing investors to suffer big losses, says the press release.

Related: AMC Lawsuit to Be Resolved in Late June

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Market News Today - AMC CEO Seeks to File New Lawsuit Against Robinhood.
Market News Today – AMC CEO Seeks to File New Lawsuit Against Robinhood.

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Robinhood Reports AMC Entertainment Has Filed for Bankruptcy

Market News Daily - Robinhood Reports AMC Entertainment Has Filed for Bankruptcy.
Market News Daily – Robinhood Reports AMC Entertainment Has Filed for Bankruptcy.

Robinhood (NASDAQ:HOOD) is falsely reporting AMC Entertainment (NYSE:AMC) has filed for bankruptcy on its trading platform.

AMC Shareholders have shared various screenshots of what many believe to be a ‘short and distort’ campaign against the movie theatre company.

AMC Entertainment has not filed for bankruptcy nor is it in any position to file for bankruptcy.

“What the DUCK !!!!! I am getting multiple reports that Robinhood briefly posted today that AMC filed for bankruptcy.

How can companies like Robinhood do this?

So ludicrous, so wrong, so irresponsible.

On Friday, we report Q1 earnings, and will announce our sizable cash position,” said AMC CEO Adam Aron in a statement on social media.

Robinhood users are reporting the platform has issued a notice on ticker symbol AMC stating the following:

“This company has filed for bankruptcy. This typically happens when companies are close to running out of money or have trouble repaying their outstanding debts.”

But this isn’t the first time Robinhood or other platforms have reported false information about AMC Entertainment.

Robinhood Reports AMC at $417 Billion Market Cap

Robinhood and other brokerages have reported AMC Entertainment at a $417 billion market cap and even $421 billion market cap.

This puts AMC Entertainment up with Facebook in terms of market cap, per the reportings.

Many shareholders have been sharing screenshots of what CEO Adam Aron believes to be discrepancies from these brokers.

The CEO said in March data sources were under review for accuracy after several sources, including MarketWatch, were reporting the company’s equity APE (NYSE:APE) of also having a 93.79 billion market cap.

Both AMC and APE are displaying what shareholders believe to be the true value of the securities.

Few skeptics have written off the data as simply ‘glitches’ from brokers.

“Market Watch currently showing 93.79 billion APEs outstanding. Clearly WRONG, wildly so. We are calling them now demanding this get corrected immediately. Also reviewing many other data sources to check for accuracy. So curse-word-here irresponsible that they publish false info,” said the CEO on Twitter.

The latest misinformation hit pieces have led shareholders to encourage Adam Aron to begin looking into the manipulation of AMC stock.

Related: Robinhood Sued in New Class Action Lawsuit

Is AMC Entertainment Going Bankrupt This Year?

It’s unlikely AMC Entertainment will be going bankrupt this year.

The CEO says the company will announce a sizeable cash position in their latest Q1 earnings report.

In terms of the movie industry itself, it’s growing.

Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) are now contributing billions of dollars to the movie theatre industry.

This is a great development for AMC Entertainment, the largest movie theatre chain in the world.

“Experts are now projecting that ticket sales will be off about 15% from before the pandemic (with 15% less product) and just about every studio is ramping up output.

After years of negotiations and failed experiments, theater chains and movie studios have reached something of a truce.

Studios will debut most of their movies in theaters and can now make them available at home within a few weeks,” says Bloomberg.

Do you think Robinhood reporting AMC filing for bankruptcy was a mistake?

Or is there a motive behind it?

Leave your thoughts below.

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Market News Today - Robinhood Reports AMC Entertainment Has Filed for Bankruptcy.
Market News Today – Robinhood Reports AMC Entertainment Has Filed for Bankruptcy.

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AMC CEO Reflects on “Meme Stock” Frenzy of 2021

Market News Daily - AMC CEO Reflects on "Meme Stock" Frenzy of 2021.
Market News Daily – AMC CEO Reflects on “Meme Stock” Frenzy of 2021.

AMC Entertainment (NYSE:AMC) CEO Adam Aron reflects on the “meme stock” frenzy of 2021 and expresses his optimism towards the company’s future.

Today, AMC stock is up more than 32% year-to-date and has survived some of the most challenging seasons a business in its unique circumstances could have gone through.

In an interview with The Wrap, Adam Aron says he recalls when the company almost ran out of cash with only four to six weeks of cash on hand.

AMC came close to collapsing during the pandemic lockdowns when AMC Entertainment went from generating several millions per month to $0 in an instance.

“We almost ran out of cash five different times. We had times where we had just four to six weeks of cash on hand”, the CEO said.

AMC Entertainment was able to raise $5 billion from March 2020 to March 2021.

The biggest help came in January when retail investors flooded the market and purchased shares of AMC stock en masse, sending AMC shares from $2 per share to $20 per share.

“That’s a big reason we’re standing here today,” says Adam Aron.

AMC Entertainment Prepares for Pre-Pandemic Levels

Adam Aron told The Wrap that he sees Hollywood returning to something approximating pre-Covid levels of regular theatrical releases.

There were only 70 wide releases in 2022 compared to 140 in 2019, and that number is already around 100 for 2023 so far.

According to The Wrap, Adam Aron believes that AMC is out of the woods today.

“Overall box offic is up by about 1/3 compared to 2022.

If the theatrical industry overall ends up with between $8.5 billion and $10 billion for the year, AMC will have a significant recovery.”

However, Adam Aron, like many professionals in the industry, doesn’t believe that the domestic box office will reach pre-Covid levels until 2024 the earliest and 2025 the latest.

“The box office is on a positive ramp, and if we have the ability to raise cash if we need to, I have no real fear,” said Adam Aron.

Analysts Are Now Predicting Big Growth for AMC Entertainment

Analyst firm Benchmark raised its growth estimates for AMC Entertainment Friday, citing better-than-expected domestic box office performance.

AMC will be reporting its fiscal first-quarter results before market open on May 5.

Benchmark now estimates that AMC will report first-quarter revenue of $912 million, up from its prior estimate of $831 million.

Analysts surveyed by FactSet are looking for first-quarter revenue of $930 million.

“Domestic box office exceeded our expectations,” Benchmark analyst Mike Hickey wrote in a note released Friday.

The analyst firm also raised its estimate for adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) to a loss of $37 million from its prior estimate of an $86 million loss.

Analysts surveyed by FactSet are looking for an EBITDA loss of $33 million.

Benchmark currently has a hold rating for AMC Entertainment.

Benchmark’s Hickey expects AMC to raise capital as soon as the settlement is resolved.

“We think AMC will immediately tap the capital markets on a successful transaction,” he wrote. “The capital raise would likely be used to provide relief to AMC’s significant net debt obligations.”

Related: Amazon and Apple Are Now Contributing Billions to Movie Industry

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Market News Today - AMC CEO Reflects on "Meme Stock" Frenzy of 2021.
Market News Today – AMC CEO Reflects on “Meme Stock” Frenzy of 2021.

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AMC FTDs Reached New Heights in Q1 of 2023

Market News Today - AMC FTDs Reached New Heights in Q1 of 2023.
Market News Today – AMC FTDs Reached New Heights in Q1 of 2023.

AMC Entertainment (NYSE:AMC) FTDs reached new heights in Q1 of 2023.

Its record date of highest FTDs in one single day happened on February 22nd, when AMC FTDs reached $61,047,531 in value, equivalent to 10,007,792 total FTDs priced at $6.10.

AMC FTDs closed at $20,402,436 by the end of the first quarter this year, equivalent to 4.1 million FTDs dated on March 31st.

AMC FTDs News - Franknez.com.
AMC FTDs News – Franknez.com – Source: Stocksera.

FTDs, or Failure-to-deliver occurs when one party in a trading contract (whether it’s shares, futures, or options) fails to deliver on their obligations.

These failures derive due to buyers not having enough money to take delivery and pay for the transaction at settlement.

In the case of sellers, it means not having the goods to meet that transaction.

Failure-to-delivers can occur in options trading or when selling short naked, per Investopedia.

According to Investopedia, AMC failure-to-delivers can also occur if there is a technical problem in the settlement process carried out by the respective parties (clearing houses).

Latest AMC FTD News

latest amc ftd news

Recently, AMC CEO Adam Aron announced that the company has contacted both FINRA and the NYSE to look closely at the trading of their stock.

“Many of you, and we, are aware that AMC Entertainment has been on ‘The Threshold List‘ for 3+ weeks, indicating a number of FTDs.

Some of you may be pleased to learn that we have contacted both FINRA and the NYSE asking that they both look closely at the trading of our stock.”

But the CEO has not updated shareholders on what the NYSE or FINRA said in regard to the skyrocketing volume of AMC FTDs.

Last week, AMC Entertainment joined the NYSE Securities Threshold List again.

The movie theatre company has been on the list for 7 trading days now.

Yahoo Finance says the major cause of a ticker getting listed on the threshold securities list is due to market manipulation through naked shorting.

Investors have criticized the CEO for saying there have been no signs of naked shorting or ‘synthetics’ in AMC Entertainment.

Related: Adam Aron Speaks on AMC’s New Reverse Stock Split

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Market News Today - AMC FTDs Reached New Heights in Q1 of 2023.
Market News Today – AMC FTDs Reached New Heights in Q1 of 2023.

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AMC CEO Adam Aron Curses Mainstream Media

AMC CEO Adam Aron Curses Mainstream Media
Market News Daily: AMC CEO Adam Aron Curses Mainstream Media.

AMC Entertainment (NYSE:AMC) CEO Adam Aron has cursed two mainstream media outlets in the past week.

The CEO expressed his anger on Twitter as bigger media outlets continue to report misinformation about the movie theater chain company.

In March, Adam Aron put MarketWatch on the spotlight when it was reporting APE (NYSE:APE) at a 93.79 billion market cap.

“Market Watch currently showing 93.79 billion APEs outstanding. Clearly WRONG, wildly so. We are calling them now demanding this get corrected immediately. Also reviewing many other data sources to check for accuracy. So curse-word-here irresponsible that they publish false info,” said the CEO on Twitter.

Robinhood (NASDAQ:HOOD) and other brokerages were also reporting AMC Entertainment at a $417 billion market cap and even $421 billion market cap.

The CEO had no comments on Robinhood though users did report the broker eventually fixed AMC’s market cap.

But the latest misinformation by Benzinga really upset the CEO.

Last month, reports came out about Amazon considering the acquisition of AMC Entertainment.

Amazon insiders said these were real talks within the company but that neither party had any real offers on the table.

Here is where Benzinga messed up.

Benzinga Reports False Information about AMC

Benzinga AMC
Market News Daily: AMC CEO Adam Aron Curses Mainstream Media.

The media company was reporting on its website that AMC Entertainment was acquired by Amazon.com on Tuesday, March 28, 2023.

Benzinga later made the following statement:

“A Benzinga stock profile page inadvertently displayed information about AMC Entertainment and Amazon that originated from a rumor reported by another media outlet earlier this week.

The stock page should have noted the unconfirmed nature of the information and the language has been removed.”

But AMC’s CEO wasn’t content with the statement.

Adam Aron cursed the media outlet on social media stating the following:

“It is longstanding company policy not to comment on M&A rumors and speculation. Comment once, you have to do it always. But then comes along this DUCKING web site. Obviously the information highlighted in orange did not happen on March 28! #AreTheseDUCKERSjustDumbOrEvil

“Many 4-letter words rhyme with DUCK. Buck, Cuck, Huck, Luck, Muck, Puck, Suck, Tuck,Yuck. Can you think of any four letter word I forgot to include? To paraphrase the talented and always lively Samuel L. Jackson, “I am aghast and angry http://Benzinga.com, you Mother Duckers.”

The CEO later said, “the 2023 award for Dumbest Most Incompetent Web Site on the Planet goes to… http://Benzinga.com! While it issued a correction after we shamed them Sunday, I do not see an apology. But that doesn’t matter because we would not have accepted it. Shameful contemptible conduct!”

Apes Have Warned the CEO of Mainstream Media

In the past, apes have warned the CEO of mainstream media misconduct.

Now Adam Aron is getting a taste of what shareholders have been putting up with and reporting for years now.

For too long, the CEO neglected to acknowledge the manipulation of the media and other reports related to the company’s stock.

Perhaps this will lead AMC CEO Adam Aron to go down the rabbit hole of the injustices occurring in his company stock.

But I’m curious to know what you think.

Leave your thoughts below.

AMC Entertainment stock is down more than -22% on Tuesday.

Market News Published Daily

Market News Today - Is Amazon buying AMC Entertainment?
Market News Today – AMC CEO Adam Aron Curses Mainstream Media.

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Robinhood Reports AMC at $417 Billion Market Cap

Robinhood is reporting AMC at a $417 billion market cap and more. CEO Adam Aron says they are reviewing sources to check for accuracy.
Market News Daily – Robinhood Reports AMC at $417 Billion Market Cap.

Robinhood (NASDAQ:HOOD) and other brokerages have been reporting AMC Entertainment (NYSE:AMC) at a $417 billion market cap and even $421 billion market cap.

This puts AMC Entertainment up with Facebook in terms of market cap, per the reportings.

Many shareholders have been sharing screenshots of what CEO Adam Aron believes to be discrepancies from these brokers.

The CEO said on Friday data sources are under review for accuracy after several sources, including MarketWatch, were reporting the company’s equity APE (NYSE:APE) of also having a 93.79 billion market cap.

Both AMC and APE are displaying what shareholders believe to be the true value of the securities.

Few skeptics have written off the data as simply ‘glitches’ from brokers.

AMC CEO Adam Aron has demonstrated displeasure towards these reports.

“Market Watch currently showing 93.79 billion APEs outstanding. Clearly WRONG, wildly so. We are calling them now demanding this get corrected immediately. Also reviewing many other data sources to check for accuracy. So curse-word-here irresponsible that they publish false info,” said the CEO on Twitter.

Adam Aron has previously shown a strong dislike for market manipulation talks, urging investors to focus on AMC’s fundamentals instead.

Some shareholders are rather confused by the CEOs reactions, who alleged people of possibly photoshopping their screenshots.

This has led shareholders to encourage Adam Aron to begin looking into the manipulation of AMC stock.

AMC FINRA and NYSE FTD Update

Earlier in March, Adam Aron announced that the company has contacted both FINRA and the NYSE to look closely at the trading of their stock.

“Many of you, and we, are aware that AMC Entertainment has been on ‘The Threshold List‘ for 3+ weeks, indicating a number of FTDs.

Some of you may be pleased to learn that we have contacted both FINRA and the NYSE asking that they both look closely at the trading of our stock.”

But Adam Aron nor AMC have released a formal document confirming the claims reaching out to the NYSE or FINRA.

This has led some investors to speculate the announcement was aimed at getting shareholders to vote yes for the proposals that have now been passed.

Investors have not heard back on an update from the CEO on what FINRA or the NYSE had to say about the alarming number of FTDs, which are usually a clear sign of naked shorting, per Investopedia and Business Insider.

What we know is that AMC was removed from the NYSE Threshold Securities List shortly after Adam Aron’s announcement — the stock plunged shortly after.

This is contrary to what the SEC rules say is supposed to happen once a security is listed after 13 consecutive days.

Market News Published Daily

Market News Today - Robinhood Reports AMC at $417 Billion Market Cap.
Market News Today – Robinhood Reports AMC at $417 Billion Market Cap.

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Investors Make Big Purchases on AMC Perfectly Popcorn

Investors are bulking up on AMC Perfectly Popcorn in efforts to support the movie theatre chain company. Sales go through the roof.
Market News Daily – Investors make big purchases on AMC Perfectly Popcorn.

Investors are making big purchases on AMC Perfectly Popcorn.

Since March 11, Walmart customers can have their choice of six different varieties of AMC popcorn — extra butter, classic butter, or lightly salted, in popped or kernel form.

The microwave popcorn will cost $4.98 for a 6-count.

Meanwhile, the ready-to-eat popcorn bags will cost $3.98, per AMC.

“On March 11, which is Oscars weekend, we will enter the multi-billion-dollar retail popcorn industry with at-home popcorn that features the authentic taste of real movie theatre popcorn,” Adam Aron, chairman and CEO of AMC Theatres, said in a news release.

Adam Aron said the company remains focused on “future innovations that will continue to surprise and delight movie lovers and our shareholders.” 

AMC shareholders have posted several pictures on social media making big purchases on AMC Perfectly Popcorn.

In efforts to help the company grow fundamentally, investors have taken matters into their own hands, supporting AMC Entertainment’s latest innovation.

“I’ve made a decision to buy $200 of these bags per month and hand them out to anyone and everyone.

People in the store, people in the parking lot etc. Friends.

CREATE more customers.

That’s 50 free bags/month”, said an investor.

Related: AMC CEO Adam Aron Hints at Destroying Short Thesis

Latest AMC Stock News

latest amc stock news

AMC Entertainment is currently undergoing a 1-for-10 reverse stock split, approved by more than 80% of shareholders, per CEO Adam Aron.

The second proposal approved by shareholders will allow the company to merge APE with AMC common stock, combining their values.

Though the proposals were temporarily delayed due to a lawsuit, the motion to intervene has been denied.

AMC Entertainment will be increasing the number of outstanding shares from 524,173,073 to 550,000,000.

This gives AMC Entertainment millions of shares to liquidate as soon as they hit the market, allowing the company to raise big cash once again.

Raising cash has been one of the CEOs greatest skillsets throughout the years.

He was able to raise hundreds of millions of dollars from investors through APE and has now turned the company’s most loyal followers into paying customers.

Related: 5 Big Sings Pointing to An AMC Short Squeeze

Market News Published Daily

Market News Today - Investors make big purchases on AMC Perfectly Popcorn.
Market News Today – Investors make big purchases on AMC Perfectly Popcorn.

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AMC Stock: CEO is Tired of Manipulation Talks

Market News Daily: AMC CEO fatigued by manipulation talks.

AMC Entertainment (NYSE:AMC) CEO Adam Aron touches on billions of synthetic shares and market manipulation.

For years now, AMC shareholders have stuck to their convictions on a mother of all short squeezes (MOASS) due to the alarming amount of overleveraged shares out in the market that institutions still have to buy back.

AMC Entertainment stock has been shorted in the past by some of the biggest short sellers on Wall Street, though now they are playing both sides to hedge their bets.

Notorious short seller Citadel has a long history of market manipulation, Chairman Gary Gensler says more than 50% of trading goes through dark pools, and Patrick McConloguge, an ex-Citadel data scientist says the game is rigged and that rules are tailored to benefit hedge funds.

But AMC CEO Adam Aron says that is not the company’s problem, despite thousands of investors urging the company to take an activist role in lifting the suppression that keeps the stock price from rising.

Investors managed to raise AMC shares from $2 to $20, and from $5 to $72 per share — though halts and other forms of suppression limited how high the stock was allowed to go.

Shareholders have felt cheated ever since and have urged AMC’s CEO to take legal action against naked shorts like other CEOs are currently doing.

But AMC’s CEO has recently expressed a strong message towards the manipulation occurring in his company stock.

And quite frankly, the CEO expresses he’s tired of investors talking about it.

Let’s dive right into it.

AMC CEO on Billions of Synthetic Shares

AMC CEO Adam Aron on Synthetic Shares.
AMC CEO Adam Aron on Synthetic Shares.

In August 2022, just moments before the debut of AMC’s Preferred Equity, APE, Adam Aron released the following statement:

“Candidly, I’ve seen no evidence so-called fake or synthetic shares exist. But many of you disagree. This preferred equity dividend goes ONLY to company issued shares. So, it will have the impact of a “share count” or unique dividend many of you have sought.”

This alarmed many investors at the time with a few die-hard followers calling anyone who mentioned this news as ‘bot’, ‘shill’, or ‘fud’ — completely unnecessary of course but it paints the environment well.

Other Twitter influencers promised shareholders APE was the catalyst to an epic short squeeze but failed to explain the equity’s true purpose.

In other words, only a half-truth was being spread within the community which caused shareholders to hold even deeper losses.

A video surfaced on social media of Adam Aron speaking on market manipulation that has many investors somewhat divided — though it shouldn’t.

And I’ll explain why in a moment.

The CEO says, “guys, don’t believe everything you read on Twitter. Yes, it’s true that we have a lot of short sellers who have sold our shares short, but all that stuff that you read about market manipulation, and fail to delivers, and all this other stuff, there’s billions of synthetic shares out there — that’s not our problem.”

Adam Aron said on Twitter the company had reached out to the NYSE and FINRA to look into the high number of FTDs but failed to provide any sort of letter confirming the claims.

Shareholders are confused to say the least with what the CEO had to say during one of his events.

Is the CEO is experiencing fear, uncertainty, and doubt?

In another video, the CEO can be heard telling a shareholder, “You don’t know what you’re talking about. You’re just wrong. You’re just wrong across the board. There are no synthetic shares.”

Despite not being one of the most peppy AMC updates, it sure is something worth raising awareness about.

What the CEO says and what you have seen are going to reinforce your conviction or lack thereof.

However, there are always two sides to a coin.

In the full video, you can also hear the CEO state that essentially running the company fundamentally is more important than the manipulation happening in the company stock.

The clips are rubbing many investors the wrong way but shouldn’t be take completely out of context.

Still, investors feel the CEO should not discuss market injustices if he’s not willing to tackle them.

Why is This Important?

Market News Daily: Adam Aron tired of market manipulation talks.
Market News Daily: Adam Aron tired of market manipulation talks.

There are millions of investors out there who have witnessed the market manipulation single handedly for years and now they’re being told it’s not important — or rather it doesn’t exist, when real data, reports, and whistleblowers have stated otherwise.

Though the CEOs controversial statements might have investors divided, it shouldn’t.

In the end, a shareholder is a shareholder and everyone has a choice to make based on what’s happening in the market and with the company.

Some shareholders are indifferent, simply waiting to collect profits when shorts start closing their positions.

AMC’s short interest is still high at 23.60%.

The short interest was lower when AMC shares ran up to its all-time high of $72 per share in 2021.

Time will tell where AMC’s share price goes from here on out.

What do you make of AMC’s CEO’s thoughts on the manipulation?

Was this the proper way to address shareholders and the community who have been fighting for change in the financial system?

Out of the market injustices that have occurred ever since the ‘meme stock’ frenzy, ‘We The Investors’ has established a legitimate voice for the retail community and has been able to speak to Chairman Gary Gensler on concerns and issues investors are currently facing.

We’ve also been able to raise enough awareness to bring certain issues to light by bigger media outlets, ensuring your voice is heard.

Leave your thoughts below.

Originally published on March 15, 2023.

Market News Published Daily

Market News Today - AMC CEO Fed Up with Manipulation Talks
Market News Today – AMC CEO tired of Manipulation Talks.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

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