{"id":62445,"date":"2023-09-18T09:37:45","date_gmt":"2023-09-18T13:37:45","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/amc-may-launch-branded-wine-named-in-honor-of-ape-retail-investors\/"},"modified":"2023-09-18T09:37:47","modified_gmt":"2023-09-18T13:37:47","slug":"amc-may-launch-branded-wine-named-in-honor-of-ape-retail-investors","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=62445","title":{"rendered":"AMC may launch branded wine, named in honor of \u2018Ape\u2019 retail investors"},"content":{"rendered":"
\n

AMC Entertainment Holdings Inc. may ramp up its efforts to sell branded products with wine named in honor of the investors that turned the movie theater chain into a meme stock darling. \u00a0<\/p>\n

The company\u2019s CEO Adam discussed the possibility of AMC
\n AMC,
\n -4.31%<\/bg-quote>
\n branded wine on Twitter Friday, tweeting a poll requesting opinions on the idea. \u201cWe launched our own brand of home popcorn, and soon will launch our own branded line of premium gourmet chocolate candies,\u201d he wrote. \u201cIf we offered at our theatres our own branded wine, too, we might name it \u2018Chateau Simian\u2019 or \u2018Saint Simian\u2019 in honor of our retail investors. Your opinion?\u201d<\/p>\n

\n

\u201cSimian\u201d is a nod to the investors who turned the company into a meme stock, who often refer to themselves as \u201capes\u201d or \u201cape nation.\u201d<\/p>\n

Related: <\/strong>AMC, buoyed by its popcorn push, prepares to launch branded premium gourmet candy<\/p>\n

AMC\u00a0has made a concerted push into branded products recently. The company announced a popcorn partnership with Walmart\u00a0Inc.\u00a0
\n WMT,
\n +0.01%<\/bg-quote>
\n earlier this year, with the product initially available at hundreds of the retail giant\u2019s stores ahead of the Academy Awards on March 12. The following month, the deal was\u00a0expanded\u00a0to encompass 2,600 Walmart stores.<\/p>\n

The AMC-branded ready-to-eat and microwave-at-home popcorn have been \u201cflying off the shelves\u201d at Walmart stores and from the retailer\u2019s website, Aron said during the conference call to discuss AMC\u2019s second-quarter results last month.<\/p>\n

AMC is looking to expand the popcorn partnership to other grocery chains, according to Aron, who said that it could become a $100 million-a-year revenue source for AMC. Aron has also said that AMC is planning to launch branded premium gourmet candy.<\/p>\n

Related:<\/strong>\u00a0AMC set to expand its branded popcorn sales to 2,600 Walmart stores<\/p>\n

AMC is no stranger to bold moves, as evidenced by the company\u2019s chain\u2019s $27.9-million investment in gold and silver miner Hycroft Mining Holding Corp.\u00a0
\n HYMC,
\n +4.35%<\/bg-quote>
\n last year.\u00a0The movie-theater chain also took aim at its massive debt burden last year with the launch of its AMC Preferred Equity units.<\/p>\n

AMC\u2019s stock underwent a\u00a01-for-10 reverse stock split\u00a0in late August. The company also completed the\u00a0conversion\u00a0of its AMC Preferred Equity units to common stock last month. Last week the company announced the completion of its at-the-market equity offering, raising approximately $325.5 million. In a statement, AMC said that the equity offering boosts its cash reserves, addresses current liquidity concerns and fortifies the company\u2019s balance sheet. Aron has repeatedly warned that the company faces\u00a0liquidity challenges.\u00a0<\/p>\n

Aron addressed the recent stock conversion\u2019s impact last week. \u201cLike you, the coming together of AMC common and preferred stock along with the reverse stock split in August decreased both my number of owned and granted-but-unvested AMC shares\/units,\u201d he tweeted Wednesday. \u201cSo, I currently have an economic interest in more than 800,000 AMC shares now, rather than the more than 8 million AMC shares and APE units previously. In turn, that means I personally experienced the great pain felt by all AMC shareholders at the recent decline in our stock price.\u201d<\/p>\n

Related:<\/strong> AMC equity offering is a \u2018safety net\u2019 and a chance to reduce debt balances, analyst says<\/p>\n

AMC\u2019s stock has fallen 69.6% in the last month, compared with the S&P 500 index\u2019s
\n SPX
\n gain of 1.8%. Shares of AMC ended Friday\u2019s session up 2.7%. <\/p>\n

On Thursday Aron tweeted that he had received over 5,000 comments in response to his tweets of the prior two days. \u201cI try to read them all, or as many as I can,\u201d he wrote. \u201cAs should be expected, many are positive, many are negative.\u201d<\/p>\n

Related:<\/strong> \u2018Dumb Money\u2019 movie thrusts GameStop saga into spotlight, but don\u2019t expect a meme stock spike<\/p>\n

The movie-theater chain has been on a roller-coaster ride over the past few years that took it from a beleaguered pandemic victim to a meme-stock phenomenon.\u00a0AMC used the steep rise in its share price to tap into equity and debt markets, raising\u00a0$917 million\u00a0in January 2021.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

AMC Entertainment Holdings Inc. may ramp up its efforts to sell branded products with wine named in honor of the investors that turned the movie theater chain into a meme stock darling. \u00a0 The company\u2019s CEO Adam discussed the possibility of AMC AMC, -4.31% branded wine on Twitter Friday, tweeting a poll requesting opinions on […]<\/p>\n","protected":false},"author":1,"featured_media":48490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-62445","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nAMC may launch branded wine, named in honor of \u2018Ape\u2019 retail investors | iFintechWorld<\/title>\n<meta name=\"description\" content=\"AMC Entertainment Holdings Inc. may ramp up its efforts to sell branded products with wine named in honor of the 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