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Photo: Noam Galai/Getty Images

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.

Go deeper

Felix Salmon, author of Capital
Aug 5, 2021 - Economy & Business

Why investors should ignore economists

Illustration: Aïda Amer/Axios

What kind of investor would ignore economics? A successful one, says legendary hedge fund manager Howard Marks in the memo we wrote about on Monday.

Why it matters: Nearly all investors — Marks included — have views on the economy, how it works, and where it's headed. Many of them go to great lengths to disseminate and popularize those views. (Looking at you, Ray Dalio.) But that's all marketing, not investing.

WHO warns against travel bans on southern African countries

Matshidiso Moeti, World Health Organization regional director for Africa. Photo: Sylvain Gaboury/Patrick McMullan via Getty Images

The World Health Organization called on countries Sunday to not impose travel bans on southern African nations amid concerns over the new COVID-19 Omicron variant.

Why it matters: The U.S. and countries in Europe and the Asia-Pacific announced travel restrictions in response to Omicron, which was first detected in South Africa. It's since spread to several European countries, Canada, Israel, Australia and Hong Kong. The WHO noted in a statement that only two southern African nations have detected the new variant.

Updated 4 hours ago - Health

First North American Omicron cases identified in Canada

COVID-19 testing personnel at Toronto Pearson International Airport in September. Photo: Steve Russell/Toronto Star via Getty Images

The first two cases of the new Omicron variant have been detected in North America, the Canadian government announced Sunday evening.

Driving the news: The World Health Organization has named Omicron a "variant of concern," but cautioned earlier on Sunday that it is not yet clear whether it's more transmissible than other strains of COVID-19.