AMC Entertainment Holdings Inc. (NYSE:AMC) stock is trading higher Friday. Nasdaq futures are up 0.48%, while S&P 500 futures have gained 0.06%.
The move comes amid a public dispute between AMC CEO Adam Aron and Robinhood Markets Inc. (NASDAQ:HOOD) over tokenized versions of AMC shares.
Aron Criticizes Robinhood Over AMC Stock Tokens
Aron raised concerns about the tokens in a post on X on Thursday. He said Robinhood “apparently is behind an effort related to ‘tokenized real-world assets including Stock Tokens'” for AMC and more than 190 other companies.
Aron said the tokens are not registered under U.S. securities laws. He also stressed that AMC has no involvement in the initiative.
AMC has “no connection to this at all,” Aron said, adding that the company does “not condone it in any way.” Aron said AMC would ask its outside securities counsel to review the matter.
What Are Robinhood Stock Tokens?
According to disclosures on Robinhood’s website, Robinhood Assets (Jersey) Limited issues the Stock Tokens. The company is incorporated in Jersey.
The disclosures state that the tokens “have not been and will not be registered” under the U.S. Securities Act. They also cannot be offered or sold to U.S. persons.
Robinhood CEO Vlad Tenev responded to Aron’s post with a brief question: “What’s the concern?”
The dispute brings together two companies closely tied to the retail-trading boom, but in different ways.
AMC is widely considered a meme stock because of its strong following among retail investors. Robinhood, meanwhile, is a trading platform closely associated with the meme-stock phenomenon rather than a meme stock itself.
Meme stocks often attract intense interest on social media and online forums. Their prices can be heavily influenced by retail trading and speculation rather than traditional business fundamentals.
AMC Expands Into Film Distribution
Separately, AMC Entertainment announced Sunday the launch of Leawood Films, a new distribution company focused on bringing more small and medium-sized movies to theaters.
Leawood Films will distribute fully financed or completed movies rather than fund production or develop scripts. The approach allows AMC to use its theater network, marketing reach and distribution expertise while limiting production risk.
The venture builds on AMC’s distribution of “Taylor Swift | The Eras Tour” and “Renaissance: A Film by Beyoncé” in 2023, followed by “Taylor Swift | The Official Release Party of a Showgirl” in 2025.
AMC said Leawood Films will complement its existing studio relationships rather than compete with them.
Hollywood veterans Toby Emmerich, Ricky Strauss and Kyle Davies will advise the venture. AMC has not yet selected its first films and expects initial releases no earlier than 2027 or 2028.
Technical Analysis
AMC’s technical picture has improved from earlier this year.
At $2.69, the stock is trading 5.4% above its 20-day simple moving average of $2.55. It is also 14.3% above its 50-day SMA of $2.35.
AMC sits 30.5% above its 100-day SMA of $2.06 and 50.2% above its 200-day SMA of $1.79.
The moving-average structure also remains bullish. The 20-day SMA is above the 50-day SMA. Meanwhile, the 50-day SMA remains above the 200-day SMA following July’s golden cross.
AMC’s relative strength index stands at 50.46. That is considered neutral and suggests the stock is not yet in overbought territory.
The 52-week high of $3.18 is a key resistance level. A sustained move above that level could signal a breakout.
On the downside, the $2.55 area is an important support level. That level sits near the 20-day SMA and exponential moving average. A drop below it could weaken the short-term bullish setup.
Analyst Outlook
AMC carries a Hold consensus rating with an average price forecast of $2.74.
Macquarie maintained a Neutral rating and raised its price forecast to $3 on Sept. 2. B. Riley Securities maintained a Neutral rating and raised its forecast to $2.50 on July 22. Macquarie also raised its forecast to $2.50 on July 22.
AMC Price Action: AMC Entertainment shares were up 5.57% at $2.68 during premarket trading on Friday, according to Benzinga Pro data.
Image via Shutterstock
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