To The Moon

Meme stock mania is back with a vengeance and leading the charge is Bed,  Bath & Beyond,  whose stock is up about 360% this month while GameStop is up 19% and AMC is up 47%.  To put this into context,  the S&P500  is only up 3.5% so far in August and has rallied almost 17% from its lows in June.

Of all the meme stocks,  I like AMC best led by CEO,  Adam Aron aka "Silverback"  to his loyal fans aka "Apes"  or Ape Nation.

Adam Aron recently announced that

"It is time for us to take decisive and even valorous action".

By this he meant that AMC is giving a special stock dividend,  effectively serving as a stock split.   Adam Aron called this special dividend "AMC Preferred Equity" or APE for short.  APE dividend would give AMC an option to raise more cash in future.

AMC's revenues rose 162.3% year over year to USD 1.17 billion for 2Q22.   However AMC still have USD 121.6 million in GAAP losses.   Total cash flow was USD1. 176 billion.

On August 22, AMC  common stock would be cut in half as it gets split into APE shares on a 1 for 1 basis as a dividend to existing shareholders.   Ex dividend date is 19 August.

This can possibly trigger a buying mania by the investors especially the Apes,  the loyal band of AMC fans.

Adam Aron is also offering a "token of appreciation"  to his shareholders to celebrate the new APEs.  This freebie is "I Own APE" NFT featuring a gold coin,  emblazoned with the words "I OWN APE"  behind a golden velvet rope.   How nice. 😍😍😍

So $AMC Entertainment(AMC)$shares may take off to the moon in the light of this latest development and spark off the next meme stock mania. 

@Tiger_chat@TigerStars@CaptainTiger