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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

AMC rides "meme stock" highs as movie industry looks to recover

Expand chart
Data: EODData; Chart: Will Chase/Axios

AMC's share price reached an all-time high last week, thanks to retail investors looking to stick it to institutional shareholders.

Why it matters: The theater chain's wild ride on Wall Street points to the power of "meme stocks" in boosting distressed assets even when markets are volatile.

Felix Salmon, author of Capital
Jun 1, 2021 - Economy & Business

AMC and Mudrick time the market to perfection

Expand chart
Data: YCharts; Chart: Axios Visuals

An early contender for trade of the month comes from meme stock (and movie theater chain) AMC, which sold 8.5 million shares over the long weekend to hedge fund Mudrick Capital Management for $230 million.

Driving the news: The price per share was $27.12, a 3.8% premium to Friday’s closing price. The news caused AMC shares to spike in early trade on Tuesday, allowing Mudrick to then reportedly exit at a substantial profit.

Updated 2 hours ago - Science

NTSB probes crash that killed 10 in Alabama as storm lashes Southeast

Flash-flooding in Bloomington, Indiana, on Saturday. Photo: Jeremy Hogan/SOPA Images/LightRocket via Getty Images

The National Transportation Safety Board announced Sunday that it's investigating a fiery multi-vehicle weekend crash in Alabama that killed 10 people, including nine children, as storms swept the Southeast.

The big picture: Saturday's crash on Interstate 65, south of Montgomery, occurred amid a tropical depression that left 13 people dead in Alabama as it triggered flash floods and spawned tornadoes that razed "dozens of homes" over the weekend, per AP.