AMC CEO: Elon Musk would be 'foolish' to destroy Twitter
Twitter power user and AMC (AMC) CEO Adam Aron is hoping for the best for the social media platform under the ownership of billionaire Elon Musk.
"I hope that Elon Musk runs it responsibly," Aron said on Yahoo Finance Live (video above). "He paid a lot of money for it. It would be foolish of him to destroy it. He is a smart man, and so hopefully he will do good things with Twitter."
Aron is viewed by some as a pioneer in Corporate America when it comes to using Twitter as a tool to communicate with investors, particularly in the retail trading community. The former lodging CEO has close to 280,000 followers and spends about one hour a day on the platform reviewing comments and sending replies to shareholders.
Aron added he hasn't seen many changes to his feed since Musk took ownership of Twitter.
"Twitter is one of the most fascinating communication vehicles that our country has seen in many a decade," Aron said. "I receive literally thousands and thousands and thousands of inbound messages every single day, and I follow about 3,000 of our shareholders on Twitter because I want to hear what's on their mind."
My point of course is that I am an AMC shareholder. A really big shareholder. My incentives are to help shareholders, not to hurt them. If I hurt you, I hurt myself. Why would I want to do that? To the best of my ability, my plan is to make AMC stronger and get it to thrive.
— Adam Aron (@CEOAdam) September 7, 2022
When he isn't tweeting, Aron is presiding over the largest movie theater chain in the country.
Earlier this week, AMC reported that third-quarter sales rose 26.9% from a year ago despite a more muted box office release slate. Meanwhile, attendance increased 32.9% year-over-year and the adjusted operating loss rose to $12.9 million from a loss of $5.4 million a year ago.
Aron said he is seeing "frothy" advance ticket sales for the upcoming box office debut of "Black Panther: Wakanda Forever."
AMC stock rose 19% on Thursday as of midday trading.
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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