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AMC Stock: Over 6% Increase Intraday Explanation

The stock price of AMC Entertainment Holdings Inc (NYSE: AMC) increased by over 6% during intraday trading. Investors appear to be responding to a Schedule 14A filing with the SEC.

In the filing, there was a portion of a transcript of an interview by Tremayne Collins with AMC CEO, President, and Director Adam Aron — which had originally aired on the YouTube Channel of “Trey’s Trades” on April 14, 2021.

“We are going to pledge right now today publicly and we will file this publicly so it will be binding on us, because you can’t announce intentions and then not carry through it, we hereby pledge at AMC that if the shareholders approve this authorization for 500 million new shares to be issued we will not use one of those 500 million shares in calendar year 2021. Not one. Not one,” said Aron in the interview. “If we need to raise some cash in the short term, remember we already have 43 million shares that are out there that were authorized in the year 2013 that we could use if we wish to raise some cash, if we decide that’s a good idea. We have made no decisions yet. We are thinking about it, but we haven’t made any decisions yet.”

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.