, Columnist
How AMC's Boss Won Over the Reddit Crowd
An essential skill in the memestock era is to know how to corral individual investors. But Adam Aron is playing with fire.
Now showing
Photographer: Amir Hamja/BloombergThis article is for subscribers only.
The boss of AMC Entertainment Holdings Inc., Adam Aron, gained an unexpected ally in his pandemic mission to keep his movie theaters afloat: a devoted army of retail investors who’d like nothing better than to inflict big losses on short-sellers betting against the debt-laden cinema chain.
Redditors have helped push the shares up 1,100% since the start of the year, allowing AMC to cheaply issue gobs of new stock to help repair its finances. No wonder Aron has gone out of his way to charm the more than 3 million individual investors who now together own a majority of the company.