amc ceo adam aron has told investors that he will not sell more of the movie theater chain’s stock “any time soon” telling investors “i ride with you” “about 23 of my total pay is in stock not cash” he tweeted monday “well publicized in advance i sold shares only once in those 7 years a 65 day span nov 21 to jan 22 my stock sales ended a year ago i will not sell any more any time soon i ride with you” aron sold more than 40 million of amc entertainment holdings inc’s amc stock between november 2021 and january 2022 see amc’s ceo asks board to freeze his pay wants other top execs to forgo raises ‘no increase for those at the top is the right thing to do’ last month amc’s stock plunged toward 22month lows after the company announced a 110 million equity capitalraising plan and said it was seeking a 1for10 reverse split of its common stock shares of the meme stock darling fell 756 in 2022 far outpacing the sp 500 index’s spx decline of 194 the stock hit a 52week low of 381 on dec 28 2022 last week aron said he has asked the company’s board to “red circle and freeze” his target cash and stock pay for 2023 aron who has led amc since 2016 described his move in a series of tweets as amc shares headed for their third consecutive decline after aron announced the equity sale and plans for the reverse stock split see now amc ceo’s pay freeze a move to assuage frustrated investors says wedbush analyst the pay freeze is a move to assuage the movietheater chain and meme stock phenomenon’s investors according to wedbush vice president of equity research alicia reese amc like its fellow meme stock gamestop corp gme  was a major beneficiary of the memestock frenzy in january 2021 which sent the struggling company’s shares skyrocketing to dizzying heights amc’s preferred equity units ape  or apes made their trading debut in august heralding the latest chapter in a journey that took the cinema chain from a beleaguered pandemic poster child to memestock phenomenon see what can we expect from meme stocks amc gamestop and bed bath  beyond in 2023 the apes have fallen 765 since their debut the name is a nod to the investors who turned the company into a meme stock who often refer to themselves as “apes” or “ape nation” in another tweet monday aron described his amc and ape shareholdings “some of you also forget that i currently own or will vest in about 3 million amc shares and 3 million ape preferred units” he wrote “that is an enormous incentive to do what is best for all amc shareholders i work in the best interests of amc shareholders because i am one and a big one” last week aron explained that he had also asked amc’s top 15 to 20 executives to forgo an increase to their cash salaries for 2023 and that they had agreed see now is the golden age of the meme stock rally over despite the toplevel salary freezes aron confirmed that amc’s employees will get a raise “yes absolutely yes” he tweeted in response to a question posed on twitter “we are asking for financial sacrifice only from those at the very top” in november amc reported its 12th consecutive quarterly loss sending the company’s stock tumbling amc which describes itself as the world’s largest movie theater chain ended the third quarter with just under 8958 million of liquidity “we will use it to continue to grow but also to continue to delever” said aron during a conference call to discuss the results in a filing with the securities and exchange commission on dec 21 2022 amc said that it had participated in discussions about a potential acquisition of rival cineworld group plc cine but said that a definitive agreement with cineworld’s lenders has not been reached and that negotiations are not continuing see now amc stock tumbles after reporting 12th consecutive quarterly loss “talks have halted with some cineworld lenders for amc to acquire some regalcineworld theatres with apes being partial payment” tweeted aron on dec 21 “we are disciplined to use our cash or stock only when we are convinced that doing so is in the best interests of amc shareholders” londonbased cineworld which owns regal cinemas filed for chapter 11 bankruptcy protection in september 2022 on tuesday cineworld said that neither the company nor its advisors are in talks with amc regarding the sale of its cinema assets