CEO Adam Aron and the parents over at AMC Leisure (NYSE:AMC) positive know find out how to excite retail traders. The movie show chain simply introduced second-quarter income that beat expectations. Nonetheless, there’s extra to the AMC inventory story than that. As InvestorPlace Assistant Information Author Brenden Rearick highlighted, information of AMC accepting Bitcoin (CCC:BTC-USD) is producing buzz.
So what do it’s essential to know?
Importantly, this was a key name for AMC Leisure. The corporate posted estimate-beating revenue, as well as narrower-than-expected losses per share. Much more vital, the corporate instantly engaged with shareholders forward of the occasion, soliciting retail investor questions.
This factors to the truth that the primary half of the yr has been large for AMC. The movie show chain has been battling the impacts of Covid-19, preventing off debt, and changing into the star in a market-gripping story about quick squeezes. Alongside the best way, AMC and its CEO have embraced retail traders.
With this all in thoughts, Aron shared large information as we speak of AMC accepting Bitcoin as a type of fee by the top of this yr. He stated the corporate would settle for BTC in any respect U.S. places. Along with this, he additionally shared it would accept Google Pay and Apple Pay for on-line purchases.
Though he didn’t have many specifics, this clearly tickled retail traders. One other large announcement from the decision is information AMC is engaged on some type of partnership with GameStop (NYSE:GME), resembling an in-theater gaming occasion.
What to Know About AMC Accepting Bitcoin
Proper now, there’s not a ton of element across the newest AMC inventory information. Nonetheless, it comes at a key time for Bitcoin and different cryptocurrencies. Simply because the earnings name was kicking off, the Senate shot down a compromise that will make clear a brand new tax proposal on crypto transactions.
However past that, it additionally comes at a time when corporations like AMC are desperate to cater to retail traders. Embracing Bitcoin… and a partnership with GameStop… are each nice methods to try this.
So what’s the backside line? It’s unclear but what precisely will come of this information, nevertheless it is probably not the top of the AMC-crypto story. Earlier this summer season, Elon Musk signaled his support for AMC to begin accepting Dogecoin (CCC:DOGE-USD).
On the date of publication, Sarah Smith didn’t have (both instantly or not directly) any positions within the securities talked about on this article. The opinions expressed on this article are these of the author, topic to the InvestorPlace.com Publishing Guidelines.
Sarah Smith is the Editor of At this time’s Market with InvestorPlace.com.