What Is Going On With AMC Stock Today?
Shares of AMC Entertainment Holdings Inc (NYSE:AMC) are trading higher by 7% Thursday morning following a series of comments CEO Adam Aron made Wednesday on YouTube channel Trey Trades regarding the issuance of 500 million new shares of the world’s largest theater chain.
“We are going to pledge right now today publicly and we will file this publicly so it will be binding on us, because you can’t announce intentions and then not carry through it, we hereby pledge at AMC that if the shareholders approve this authorization for 500 million new shares to be issued we will not use one of those 500 million shares in the calendar year 2021. Not one. Not one,” Aron said during the interview.
“If we need to raise some cash in the short term, remember we already have 43 million shares that are out there that were authorized in the year 2013 that we could use if we wish to raise some cash, if we decide that’s a good idea. We have made no decisions yet. We are thinking about it, but we haven’t made any decisions yet,” Aron said.
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