AMC Entertainment (NYSE:AMC)
Following the announcement that Cineworld (OTCPK:CNNWF) has filed for Chapter 11 bankruptcy, AMC Entertainment (NYSE:AMC) CEO Adam Aron is tweeting through the situation to reassure individuals who are concerned about the liquidity of the most successful theater chain in the world.
Aron reported that Cineworld/Regal has just applied for Chapter 11 bankruptcy protection for its theaters in the United States and the United Kingdom. “Because individual investors took an interest in our company and helped us raise a substantial amount of capital, the AMC Entertainment (NYSE:AMC) is currently in a very fortunate position. Many thanks to the retail sector! You are responsible for AMC’s survival.”
Cineworld stock increased by double digits in London trading on Wednesday, but its equities remain unchanged at pennies in pink-sheet trading in the United States. AMC stock (AMC) went from a slight rise in the morning to a 2% decrease during lunchtime trading on Wednesday.
Aron had been working hard all evening on Tuesday to bring attention to how his company is distinct from Cineworld. He stated that AMC had more than one billion dollars in liquidity after the second quarter. “In addition, we are certain that AMC Entertainment (NYSE:AMC) can easily raise equity. Maintaining a healthy financial position is the most beneficial thing that AMC can do for our stockholders.”
He went into further detail on Wednesday morning: “Extremely significant, particularly for individuals who have an erroneous fear of dilution. I am the owner of 793,974 AMC shares and APE units, and I have been given an additional 2,100,074 shares that will vest in 2023, 2024, and 2025. My specific objective is to skillfully steer AMC Entertainment (NYSE:AMC) through these difficult circumstances. Which approach is going to be most effective? Put a significant amount of money in the bank.”
“My main argument is that I am a stakeholder in AMC, which is obvious. One of the most significant shareholders, “Aron stated. “My incentives are geared at assisting shareholders, not hindering their interests. If I make you feel bad, it will make me feel worse. Why on earth would I want to act in such a way? My goal is to improve the strength of the AMC Entertainment (NYSE:AMC) and bring about its flourishing to the best of my abilities.”
Featured Image – Megapixl © Rafaelhenriquepress
Author Shariq Khan 
