The result of this week’s shareholder vote was critical for AMC.
AMC Entertainment Holdings Inc. is in a good position, boosted by trends in movie going and the result of this week’s key shareholder vote, according to Wedbush Securities equity research analyst Alicia Reese.
On Tuesday, shareholders of AMC AMC voted in support of the company’s proposal to convert AMC Preferred Equity units APE into shares of common stock. Speaking at Tuesday’s special shareholder meeting, AMC CEO Adam Aron lauded what he described as a “landslide victory.” The CEO commended the company’s shareholders for “the wisdom” they exhibited in their voting. “You gave us the tools we need to fight the good fight on your behalf,” he said.Over the past two years, AMC has been on a roller-coaster ride that took it from beleaguered pandemic victim to meme-stock phenomenon.
“Within all of these dynamics, AMC is positioned really well,” said Reese. Moviegoers, she explained, are trending toward Premium Large Format screens, which bodes well for the movie theater chain. “AMC has the largest footprint of IMAX screens in North America, they also have a partnership with Dolby Theaters,” she said. “In addition, they have their own proprietary Premium Large Format screens.”
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