AMC to give retail investors free popcorn, other perks
AMC Entertainment will offer retail investors free popcorn and special movie screenings as part of a program to put it "in direct communication with" individual shareholders, the company announced Wednesday
The big picture: AMC has been benefitting from the power "meme stocks" as retail investors rally around the company to boost its assets even during volatile markets, Axios' Sara Fischer writes. The move is the company's latest move to keep investors engaged and interested.
- The company has changed its communication style to specifically reach new investors via social media, CNBC reports. CEO Adam Aron has even started following hundreds of accounts on Twitter that are presumed to be shareholders, which call themselves the "ape army."
- AMC reached an all time high share price last week, peaking at $36.72.
Details: Beginning Wednesday, individual investors can register in the AMC Investor Connect program to get rewards, including an initial large free popcorn when they attend a movie this summer.
- Shareholders will be given special discounts and invitations for exclusive movie screenings.
- They will also be able to communicate directly with the AMC CEO.
What they're saying: "Many of our investors have demonstrated support and confidence in AMC. We intend to communicate often with these investors, and from time to time provide them with special benefits at our theaters," Aron said in a statement.
- "We start with a free large popcorn on us, when they attend their first movie at an AMC theatre this summer," he added.