The most important roundup of news for AMC June 2 2021
- WOW! Here we go! AMC skyrocketed 165.48% to reach a high of $72.62. It closed at $62.55. (Sorry, apes, but the June 2 entry isn’t as detailed as it should be because I was quite sick—on the most exciting day of the year so far—and unable to take my usual real-time notes on all developments.)
- According to Cristhian Andrews, a hedge fund illegally created 3 billion fake/synthetic shares when the price was at $6.
- AMC launches “Investor Connect,” an innovative, proactive program that puts AMC in direct communication with shareholders to keep them up-to-date about important company information and to provide them with special offers.
- Per Adam Aron, please note these critical distinctions: the updated share-count (shares issued and outstanding) will be completed & released on June 2 (or “first week of June“), while the vote recount starts on June 2nd and ends on July 29.
In order to qualify to attend and vote at the rescheduled shareholder meeting on July 29, apes must own shares (i.e., “be on record”) before Wednesday, June 2. Also, please note that your share purchase(s) must have settled (i.e., “been on record”) before June 2 in order to be included in the share-count. If you buy on June 2, your shares may not settle for 1-3 business days thereafter, and you will not qualify to attend the meeting, vote, or have your shares counted. So, to be safe, you should buy shares no later than Friday, May 28 because the markets are closed on Monday, May 31 in observance of Memorial Day.
Email response from AMC regarding share-count and vote-count:
If you own shares as of June 2, 2021, the brokerage firm that holds your shares will provide you with updated proxy and voting information. If your brokerage firm does not allow voting, you can do two things:
- You will be able to contact our proxy solicitor after the new proxy materials are issued to see if they can confirm your ownership, and if they can, you can vote through them. The information about our proxy solicitor will be available when we update the proxy materials. Be sure to sign up for AMC news here: https://investor.amctheatres.com/resources/email-alerts/default.aspx
- Transfer your shares to a brokerage firm that does allow voting.