AMC CEO Says He’s Hopeful Despite ‘Distressing’ All-Time Low Share Price: ‘We Will Continue to Innovate’

AMC Entertainment CEO Adam Aron addressed the theater chain’s struggling stock price – $1.61 – in a statement to shareholders Friday, acknowledging the “distressing” decline. The stock hit a new all-time low of $1.55 in Wednesday afternoon trading.

Shares of AMC Entertainment Holdings, Inc. closed down 3.73 percent at the same level. According to data from Benzinga Pro, the decline came even as more than 5.5 million people visited AMC Theaters worldwide from Christmas through the following Sunday.

“As AMC’s largest individual shareholder, and not having sold even one AMC share on the NYSE since January of 2022 about four years ago, I personally and profoundly have felt the pain of AMC’s falling share price,” Aron wrote in a post on X. “And from reading your many comments on X/Twitter, I know it is ever so distressing to so many of you as well.”

Aron said he has been advised not to comment on the share price due to his role, but noted that AMC has been taking action to improve its business.

“You should take comfort in hearing that at AMC, we have not been sitting by idly doing nothing,” Aron added. “To the contrary, we aggressively have been taking action after action after action to please our guests, to improve the appeal of our theatres, to increase our market share, to drive more revenues and to cut more costs.”

AMC expanded event programming by partnering with Netflix to screen “The Stranger Things” series finale in more than 620 theaters with over 1.1 million seats reserved.

The final episode of the smash-hit Netflix series pulled in over $25 million at the box office over New Year’s Eve and New Year’s Day, according to early industry estimates, marking a massive win from a collaboration between the streamer and movie theaters.

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