AMC Entertainment Holdings Inc (NYSE: AMC) jumped another 20% in the stock market on Wednesday as the theatre chain said it will reward retail investors with exclusive screening and free popcorn. Shares of the company opened at $37.50 (£26.48) and are currently exchanging hands at a record $41.
Individual stockholders can now sign-up for AMC Entertainment’s loyalty programme via a dedicated portal it launched on its website. Upon self-identification, investors can get company updates and special offers via the new portal – AMC Investor Connect.
CEO Adam Aron’s remarks on the launch of the new portal
CEO Adam Aron intends to also use AMC Investor Connect for direct communication with shareholders. Aron said in a statement on Wednesday:
“During my five-plus year tenure as CEO at AMC, I’ve taken great pride in the relationships I have forged with AMC’s owners. With AMC Investor Connect, that effort in relationship building will continue apace even if our shareholders now number in the millions. After all, these people are the owners of AMC, and I work for them.”
AMC reported its quarterly financial results in early May. At the time, it had 3.2 million individual stockholders that owned roughly 80% of its 450 million shares outstanding. The chief executive also postponed the annual stockholders meeting by over a month because he wanted retail investors to participate in the event.
On a year-to-date basis, the meme stock that is now the top favourite of retail investors is up close to 1,800%. At the time of writing, the Leawood-headquartered firm has a market cap of $18.24 billion. In comparison, the previous favourite of Reddit investors, GameStop Corp, gained about 26% in the stock market last week.
Other companies that offer freebies to shareholders
AMC Entertainment is not alone in the league of companies that offer freebies to shareholders. For example, Geico (Government Employees Insurance Company) provides discounts for Berkshire Hathaway (parent organisation) affiliates. If you’re a part of a wide range of Berkshire companies, you can qualify for discounted insurance.
Ford Motor Company also has its Shareholder X-Plan Programme in place that offers a “Friends and Neighbours” pricing discount to those who own at least 100 shares of the company for a minimum of the past six months.
Royal Caribbean recently announced up to $150 of instant savings per stateroom on select sailings from 1st October 2021 to 30th September 2022.
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Wajeeh Khan
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