Adam Aron, chief executive of AMC Entertainment, sold $7.1 million worth of shares in the movie theater giant this week, saying he has sold the stock.
He has sold more than $40 million worth of stock since November.
“Back in August, I said that at the age of 67 I would sell some AMC shares at the end of the year, all trading decisions out of my hands, spread over 3 months under the guidelines of the Chase 10-b-5-1 plan. ,” Aaron said in a tweet. “Those sales are all over now.
I still own or plan to invest 2,302,760 AMC shares. I’m in!”
According to a regulatory filing, Aaron sold 312,500 shares of AMC on Tuesday.
On Wednesday, the stock closed down 0.3% at $22.72. Shares rose nearly 1,300% last year, fueled by meme traders who rallied behind the stock.
Write to Joe Woelfel at [email protected]