HomeInvesting NewsCEO of AMC, Aron, talks about the company's financial stability in the...

CEO of AMC, Aron, talks about the company’s financial stability in the wake of Cineworld’s bankruptcy.

Published on

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

See Disclaimer Please

Latest News

Recent Surge in Tesla Stock: Exactly What Caused It?

Tesla Stock (NASDAQ:TSLA) As of 11:30 a.m ET on Friday, Tesla stock was up 2.3%...

Here’s Why Carvana Stock Fell Quite So Much as 23.7% This Week

Carvana Stock (NYSE:CVNA) According to data provided by S&P Global Market Intelligence, Carvana stock fell...

Here’s Why Tellurian Stock Is Rising Again Today

Tellurian Stock (NYSEMKT:TELL) Tellurian stock was up 6.5% as of 11:06 p.m. ET today after...

Is It Time to Buy Chewy Stock?

Chewy Stock (NYSE:CHWY) Pet supplies are one of the few consumer goods that do well,...

More like this

2 Casino Stocks You Should Consider

With a recession on the horizon, investors must be more selective than ever. Analysts...

(Exxon Mobil Stock) Exxon Ceo Warns Biden Administration Against Restricting Fuel Exports

Exxon (Exxon Mobil Stock) opposes calls for oil corporations to reduce international exports and...

Apple Stock Loses $120 Billion Because of a Rare Downgrade

Apple stock just took a significant knock after it was once considered to be...

Meta Stock Tops Morningstar List of the Most Undervalued Stocks 

Morningstar compiled a list of the most undervalued stocks among those with a large...

Hd Stock up as Foundation to Contribute Up to $1 Million to Aid Communities Affected by Hurricane Ian

HD stock was trading at $280.23 as of 12:55 PM EDT. The Home Depot Foundation...

Making the Cut: Micron (Micron Stock)

Micron Technology Inc (Micron Stock) latest outlook brings expectations back to normal, although the...