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The company posted a loss for the three months ended June, but it was smaller than analysts had expected and revenue was higher than expected.
“Basically, AMC crushed it in Q2,” Aron said on the call, adopting the jargon of the Reddit crowd. Later, Aron highlighted the fact that AMC has implemented some of the “great ideas” that individual investors have “sprinkled” it, including screening professional sporting events and concerts.
He answered a dozen questions from individual investors. “Can you officially turn the AMC mascot into a gorilla?” Aaron asked, reflecting the tendency of Reddit investors to call each other “monkeys.” “Would the AMC ever consider relaunching drive-in theaters?” Ryan wanted to know.
In comparison, Aron answered questions from just one analyst versus about six analysts a year ago, blaming the time constraints for shortening.
The reaction: The stock gained Monday and is up nearly 9% premarket. AMC’s newest shareholders raved about Aron’s performance on social media platforms like Reddit afterwards. “Silverback Adam crushed the win call. If you’re ‘in this to win this,’ you gotta listen to it,” one observer wrote on Twitter.
What it means: Individual investors matter, and companies embrace them for good reason.
Shares of AMC are up more than 1,500% so far this year, and it was able to raise $587 million in June as meme traders piled up, though none of the analysts covering the company recommend buying the buy shares and theater attendance remains well below pre-pandemic levels.
Watch this space: Playing against another online crowd favorite, AMC announced it would roll out technology to let moviegoers in the United States pay for their tickets and snacks in bitcoin by the end of the year.
It is also buying up US theaters and plans to open about a dozen new locations in the United States, Europe and the Middle East this year, on the gamble that consumers will return to the film once the pandemic is over.
“We fundamentally believe that ours has a bright future, because there is nothing more magical than seeing dazzling images on a huge silver screen,” Aron said during the phone call.
Companies have nowhere to hide about climate
Companies that don’t have a plan to cut their carbon emissions could soon find themselves on the receiving end of shareholder revolts.
The shocking assessment will only increase pressure on companies to scale up climate action to achieve the goals of the Paris Agreement.
See here: In one of the latest signs of the growing backlash facing polluters, Greenpeace threatens to sue if Britain gives the go-ahead for a new development of crude oil in the North Sea.
How to retire early?
Early retirement has long been seen as the preserve of a lucky few who peaked in their 30s or 40s, often with high stakes on a business venture that turns out to be a major success. That may be changing.
The Financial Independence Retire Early movement, known as FIRE, is a method of living below your means to gain financial independence as early as possible, reports my CNN Business colleague Jazmin Goodwin.
How it works: FIRE focuses on keeping costs low and savings high. People who pursue this goal start by choosing a “BRAND number”, which is the amount of money they need to save in order to generate enough income to cover the costs without having to work.
In general, this means that you need to save somewhere between 50% and 75% of annual income to retire well before age 65 and usually debt free.
Bottom line: “If you want to retire early, you need to widen the gap between what they earn and what they spend,” explains Danielle R. Harrison, founder and president of Harrison Financial Planning.
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Sources 2/ https://www.cnn.com/2021/08/10/investing/premarket-stocks-trading/index.html The mention sources can contact us to remove/changing this article |
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