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#Amc security square 8 movie
Beware of concepts that sound easy and too good to be true," Aaron warned.īut Aaron has taken cues from his fervent shareholder base in recent months, with the movie theater chain accepting meme-inspired cryptocurrencies like dogecoin, as well as issuing 86,000 free Spider-Man NFTs to early ticket buyers of the upcoming Spider-Man: No Way Home movie. "It is likely illegal, breaches our debt covenants and/or exposes AMC to huge litigation risk. The specific idea circulating among AMC's retail shareholder base in recent weeks involved AMC issuing a NFT dividend for every share of AMC, with the hopes of sparking another short-squeeze similar to the one that ocurred in early June. But not a 1 per share security token NFT dividend, as repeatedly described on Twitter," Aaron tweeted to his 225,400 followers on Thursday. On top of the insider sales, CEO Adam Aaron rejected an idea popularized by retail investors in recent weeks of issuing an NFT dividend, serving a double whammy to investors that latched onto the stock earlier this year amid a surge in so-called meme-stocks. Over the past three months, company insiders at AMC sold stock 24 times, while there was only one instance of open market buys, according to data from Nasdaq.
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Shares of AMC Entertainment extended its two-day decline to as much as 20% on Friday after SEC filings revealed insider selling by the movie theater chain's CEO and CFO this week.ĬEO Adam Aaron sold $9.6 million worth of AMC shares on December 7, while the company's CFO sold the last of his remaining shares, worth about $600,000. Aaron also rejected an idea from retail investors to issue and NFT dividend in hopes of forcing a short squeeze.AMC's CEO Adam Aaron sold $9.6 million worth of stock on December 7, while its CFO sold the last of his shares.AMC Entertainment extended its two-day decline to as much as 20% on Friday amid insider sales.People walk outside the AMC Empire 25 movie theater in Times Square