GameStop and AMC Entertainment finish week on very sour notes as cloudy earnings, sudden CEO distrust, short-seller investigations, and hot social media...
Shares in AMC Entertainment AMC, -6.86% closed down 6.9% on Friday, capping off a very rough week for the stock after reports that its memelord CEO sold another large tranche of his AMC shares and made the rare decision to disappoint his retail investor shareholders by publicly pouring cold water on a virally popular plan to protect the stock against short sellers.
Still, many others defended Aron’s share sales, reminding their fellow Apes that Aron told investors he would be selling shares for estate planning purposes during the company’s Nov 8 earnings call. It also caused AMC stock to fall by more than 10% at one point Friday and provided another glimpse in to the schism between Apes backing AMC and those loyal to the other Mother Meme stock.
“I’m cooler online than in real life,” the activist investor turned GameStop chairman/retail investor folk hero tweeted at 2:55pm EST.
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