AMC Announces Free Popcorn Reward for Retail Investors
AMC Entertainment stock continues on a rollercoaster of a ride that began yesterday. Share prices were up more than 40 percent this afternoon (and continuing to trend upward).
Record Rally Continues
The rally set a new record for share price today at $61.90. At the time of posting, the stock price made a slight decline to $57.71.
Stock Price on the Move
Early Tuesday, AMC announced that it sold 8 million shares of stock to an investment firm for a gain of $230.5 million dollars. The shares sold to Mudrick Capital Management. The stock took a 23 percent climb in the afternoon after the announcement.
However, shortly after, the stock took a dramatic fall after the hedge fund company surpisingly announced that they actually already sold off the stock for a profit.


Image Credit: AMC
Lucky for AMC though, its Reddit fans continue to support the company in the market, increasing its market value today to over $19 billion.
AMC stock recently joined the company of other “meme stocks,” like GameStop Corp and BlackBerry. These stocks see extraordinary gains based on trends on popular discussion website Reddit.
Hoping to recover from a dismal year, AMC continues to try to cash in on its latest Reddit fame. The entertainment company currently has a $5 billion debt to pay off after the impact of the COVID-19 pandemic on movie theatres. Over time, they hope to use the money for aquisitions and theatre upgrades as well.
Reddit Retail Investors Get Surprise
Currently 3.2 millions retail investors own 80% of the company’s stock. Today, CEO and President Adam Aron wants to celebrate them.


Image: Disney Springs
“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. 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,” Aron said in a release, according to an article posted on Investor Place.


Image Credit: AMC
Investors on popular retail apps like Robinhood have increased the value of AMC stock by more than 1,400% already this year. To thank them, AMC will be offering a free large popcorn on their next visit to the cinema.
Perhaps they will check out a new release at AMC Movies at Disney Springs 24 from the Walt Disney Company like Pixar’s “Luca,” Disney’s “Cruella,” or Marvel’s much-anticipated “Black Widow.”