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by listenallyall
43 days ago
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> "smart enough" AMC is the dumbest company (or more specifically, its CEO Adam Aron is the dumbest executive). MoviePass came in out of nowhere and became the largest purchaser of movie tickets... millions every week. And AMC actively fought against them, refused to even let them buy tickets at full price, and led the charge to drive them out of business. For what alternative? Mostly, nothing but empty seats. AMC's stock price is $1.59 as I write this vs $50-70 while MoviePass was peaking around 2018. AMC had to do a 10-to-1 reverse stock split to avoid being delisted, they may need to do another one. They even got a brief "meme stock" spike over $250 and managed to do absolutely nothing productive (except pay the CEO more) with this new capital access. |
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