AMC Entertainment Holdings Inc. AMC CEO Adam Aron has seemingly taken a dig at people who are predicting that the days of seeing movies in theatres are over.
What Happened: Aron took to Twitter to say that it felt like AMC was playing "3-dimensional chess" ahead of the opening weekend of the 25th James Bond movie “No Time To Die.” The movie makes its U.S. debut on Friday.
Some of you have suggested that as CEO of @AMCTheatres I’ve been playing chess while detractors played checkers. On the weekend that James Bond’s No Time to Die opens in the U.S., it feels more like AMC is playing 3-Dimensional Chess. To the naysayers, I say it loud: #CHOKEonTHAT pic.twitter.com/FVevPWD62X— Adam Aron (@CEOAdam) October 8, 2021
The CEO’s tweet had 6519 likes and was retweeted 1809 times, as of press time.
Dogecoin DOGE/USD bull and YouTuber Matt Wallace lauded AMC’s recent move to accept the meme cryptocurrency for payments in response to the tweet, calling it a “3D chess move.”
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Aron had said on Monday that about 3.9 million people worldwide visited an AMC Entertainment theatre last weekend.
The CEO noted that “Venom: Let There Be Carnage” and the latest Bond movie helped the movie theatre chain to set records for the highest-grossing weekend since the pandemic began in 2020.
Why It Matters: AMC Entertainment is seeing a strong recovery from the impact of the pandemic, when lockdowns forced the company to close its theatres.
AMC Entertainment managed to avoid bankruptcy during the pandemic and reopened 98% of its locations in March. The company’s stock continues to see high interest from retail investors and has skyrocketed a whopping 1699% since the year began.
Price Action: AMC Entertainment shares closed almost 3.6% higher in Thursday’s regular trading session at $38.14, but declined 0.2% in the after-hours session to $38.14.
Photo: Courtesy of Samantha Celera on Flickr
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