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Under the plan Aron will sell 1.25 million shares over a period of the coming days, weeks and months.
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He reiterated the plan on the firm’s third-quarter earnings call Monday.
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Wednesday’s chunk marks half of what Aron eventually plans to sell ahead of his 67th birthday next year, Aron told investors last August. By afternoon trade, the stock was up around 3.6 percent to trade at $39.68 per share.Īron’s stock sale is part of an estate-planning process, according to the filing with the Securities and Exchange Commission. On Thursday, AMC’s stock rebounded, erasing some of the previous day’s losses. They fell 4 percent during normal-hours trading and another 3 percent in after-hours trading. The total market value of the shares sold could rise beyond $50 million.Įven though the sale - which Aron said was for estate-planning purposes - had been telegraphed in August, the disclosure of the sale still sent shares lower Wednesday. That’s just half the shares he plans to sell over the coming days, weeks and months, according to the filing. Reality bites traders, memers and crypt-iots after they chased bubbleĪMC Entertainment CEO Adam Aron has sold 625,000 shares in the company, worth approximately $25 million, according to a Wednesday filing with federal regulators. Meme stocks GameStop, AMC, and Bed Bath & Beyond rise again National Cinema Day $3 tickets draw record number of moviegoers TikTok user claims she was bitten by bedbugs at AMC Theatre in Times Square
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