Why Is The Ceo Of AMC Entertainment Selling His Shares?

AMC Entertainment is the world’s largest cinema chain, valued at $10,605 billion, with over 1,000 theaters, and has been in business for over 100 years. To attract customers, it offers various promotions, for example, according to the official website, it provides 30% for matinees, and with the promo code JORDAN21, customers receive 30 days of free ALLBLK streaming. At the last official auction, its stock was worth $20.66, which is 14.7% less than the weekly high. The price was stable from January 10 to 13 at $22.77. Over the past year, it has added 1300% thanks to discussions in social networks.

AMC Entertainment

The January 13 price drop was caused by AMC CEO–Adam Aron– selling a significant amount of his shares. In his Twitter account, he recalled that back in August he planned to sell part of AMC Entertainment at the end of 2021, in accordance with the Chase 10-b-5-1 plan. Indeed, he started to market his shares in November 2021 and ended up selling over $40 million worth of AMC. And his most recent deal was this week, selling 312,500 meme shares for $22.85. Despite this, he still owns $52 million worth of AMC.