While the rush on GameStop stocks dominated headlines earlier in the year, AMC also saw its fortunes reversed during the social media-fueled buying frenzy, and the theater chain wants to give back to its millions of new shareholders who rocketed the company’s stock by more than 1,400% since the retail investing boom began.
Thanks to a new portal on its website called AMC Investor Connect, shareholders can register for perks like free popcorn and special screenings as the theater chain slowly comes back to life after the pandemic pushed AMC to the brink of bankruptcy. Via CNBC:
“During my five-plus year tenure as CEO at AMC, I’ve taken great pride in the relationships I have forged with AMC’s owners,” Aron said in a statement Wednesday. “With AMC Investor Connect, that effort in relationship building will continue apace even if our shareholders now number in the millions. After all, these people are the owners of AMC, and I work for them.”
Unlike GameStop, whose stock rush seems to be waning, AMC has been going strong in recent days, with buying reaching such a frenzy towards the end of May that purchasing had to be halted several times. However, by midday Thursday, AMC already saw a 30% drop after the company announced it would be selling millions of its Class A common stock. The plummet was a stark contrast to Wednesday where the stock “rallied 95%,” according to CNBC. Maybe get that free popcorn while the getting’s good.