The CEO of AMC Now Addresses Shareholders in New Message

Market News Today - The CEO of AMC Now Addresses Shareholders in New Message
Market News Today – The CEO of AMC Now Addresses Shareholders in New Message

The CEO of AMC Entertainment (NYSE:AMC), Adam Aron, has addressed shareholders in a new message on Twitter.

The company recently announced that it raised $325 million in brand new equity to bolster its liquidity and pay down its debt.

At the end of this week’s trading, AMC Entertainment finished up more than +13% with shares peaking at $8.91 on Thursday.

“You have sent me over 5,000 comments in response to the tweets I wrote just in the past two days.

I try to read them all, or as many as I can. As should be expected, many are positive, many are negative. This may surprise you but I genuinely appreciate receiving all of it, the good but also the bad. Why? Because you own our company.

It is important that I understand what you think –both the favorable and the unfavorable.

At the same time, it is absolutely vital that after distilling all of your feedback, I actually do and action what I think is in the best interests of all of our shareholders,Adam Aron said on Twitter.

While I am as frustrated as any of you are by the challenges that AMC still faces 42 long months after Covid forced the closure of all of our theatres, that frustration is greatly outweighed by my pride that AMC is still alive and fighting… that AMC is still leading and innovating… and that AMC is eminently stronger with our now greatly increased cash reserves.

How many times have the naysayers and prophets of doom predicted with certainty that AMC would fail? So far, we have proven them wrong. Over and over again. Wrong, wrong, wrong. In my view, AMC has an exciting future ahead, as our industry continues on its long glide path to eventual recovery and as AMC continues to take bold action to be out front.

In the language and customs of the 18th century, a message like this one would be signed “Your humble and obedient servant.”

AMC is Well On The Path to Recovery

Market News Today - The CEO of AMC Now Addresses Shareholders in New Message
Market News Today – The CEO of AMC Now Addresses Shareholders in New Message

AMC Entertainment is well on the path to recovery, but where does that leave investors in terms of the manipulative short selling of the stock?

After all, about 100% of investors were focused on the short selling anomalies happening in AMC stock since 2021.

While AMC’s fundamentals have greatly improved and the company is no longer at risk for bankruptcy, many shareholders have lost majority of their portfolios at the hand of manipulative short selling.

Users on Twitter don’t believe the CEO will touch topic on these actions in the market, even if they believe it should be on top of the list.

Today, AMC Entertainment stock is down more than -72% this year-to-date with the company making the NYSE Threshold Securities List numerous times this year for its incredibly high count of FTDs.

“Sometimes there are fails to deliver, and a fail to deliver is when you don’t have the ability to prove that you borrowed the stock legally before you actually shorted it”, said Yahoo’s Senior Markets and Data Reporter Jared Blikre.

He says a company joining the NYSE Threshold Securities List is a clear indication of manipulation in the market, primarily through ‘naked short selling’, which Wes Christian says is a worldwide problem.

Whether or not the company will pursue an investigation on any form of illicit trading activity, AMC Entertainment is determined to eliminate Wall Street’s short thesis via its fundamentals first.

A B. Riley analyst says AMC Entertainment is now safe after the company’s recent stock sale and has even given the movie theater company a ‘neutral’ rating with a $45 price target.

“We believe these proceeds not only provide an increased near-term liquidity safety net while the lingering Hollywood strikes potentially put the 2024 film slate at risk but also provide an opportunity for the company to reduce the principal balances for the higher interest rate debt scheduled for maturity in 2026 and beyond,” Wold wrote.

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Market News Today - The CEO of AMC Now Addresses Shareholders in New Message
Market News Today – The CEO of AMC Now Addresses Shareholders in New Message

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