With AMC stocks hitting an all-time high of more than $40 per share, the company is planning to give out new perks to its retail investors.
AMC will provide its investors with exclusive promotions which include free or discounted items, special screening invitations and direct communications with AMC CEO, Adam Aron. AMC has also launched a new platform on its website for its new retail investors. The site, AMC Investor Connect requires investors to self-identify and sign up for the theatre chain’s loyalty program which contains special offers and company updates.
AMC’s stocks have surged in the last five months, with stock prices increasing by more than 1,400% since January. Back in March, the company claimed that it had 3.2 million individual shareholders, which own about 80% of the 450 million shares outstanding. Many of them were inspired to purchase AMC stocks by the wallstreetbets Reddit page, which made headlines earlier this year with the surge of Gamestop’s stock. The page was motivated to invest stocks in select companies that were being shorted by large hedge fund groups.
CEO Adam Aron praised investor who gave their support to AMC saying in a statement, “during my five-plus year tenure as CEO at AMC, I’ve taken great pride in the relationships I have forged with AMC’s owners.” He continued, “with AMC Investor Connect, that effort in relationship building will continue apace even if our shareholders now number in the millions. After all, these people are the owners of AMC, and I work for them.”
The surge in investors for the company actually led to AMC delaying its annual shareholder meeting by more than a month to give new investors a chance to attend. The choice to delay wasn’t just about attendance but give those investors an opportunity to “make their important voices heard” said the AMC CEO.