Dad's AMC stock gift to sons balloons in value

Wednesday alone, shares popped more than 100% before closing with a 95% gain


 

The CEO of AMC Entertainment may be due a very nice Father's Day gift later this month.

 Adam Aron gave his two adult sons 500,000 shares of the theater chain’s stock back in March, according to Bloomberg.

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At that time the shares were worth about $3.4 million to each son.

Take into consideration the rocket ride shares have taken, especially this week and each son’s holdings would be worth $15.6 million.

AMC CEO THROWS RETAIL INVESTORS ANOTHER BONE

That is if they held on to them.

Shares of AMC are up 20% in Thursday's premarket trading. Wednesday alone, shares popped more than 100% before closing with a 95% gain, amid three trading halts by the New York Stock Exchange. 

Ticker Security Last Change Change %
AMC AMC ENTERTAINMENT HOLDINGS INC 60.73 +5.55 +10.06%

It's another example of how the day trading assault on AMC shares has made fortunes for the online traders that have pledged their allegiance to the money-losing theater chain.

Aron himself has shares and longer-term grants that are now worth more than $260 million, according to a filing reported by Bloomberg.

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The company has declined to comment on share price moves.