A monster movie is coming back to movie theaters for free for some people. Here’s who gets to see the movie for free and why the movie is coming back to theaters.
What Happened: Coinciding with the launch of the AMC Preferred Units that trade with the ticker APE and the continued reference to AMC Entertainment Holdings (NYSE:AMC) investors as “Apes,” a famous movie ape is returning to theaters.
On Friday, Aug. 26, most AMC movie theaters will air “Godzilla Vs. Kong,” the 2021 movie from Warner Bros. Discovery (NASDAQ:WBD).
“Save the Date! Our best ever AMC Investor Connect member invitation,” AMC CEO Adam Aron tweeted.
All AMC Investor Connect members will get two free tickets to the movie, with more details coming on Tuesday, Aug. 23, 2022.
“I prefer Apes over Lizards,” Aron shared in a separate tweet, a reference to the movie’s two monster stars.
“Godzilla Vs. Kong” was released in 2021 and grossed $100.9 million domestically and $470.1 million worldwide. The movie has a 6.3 score (out of 10) on IMDb, a movie database owned by Amazon.com Inc (NASDAQ:AMZN).
The movie’s tagline is “the epic next chapter in the cinematic Monsterverse pits two of the greatest icons in motion picture history against each other – the fearsome Godzilla and the mighty Kong – with humanity caught in the balance.”
Related Link: 5 Things You Might Not Know About AMC CEO Adam Aron
What’s Next: The release of “Godzilla Vs. Kong” in theaters comes as AMC issued APE shares to all shareholders on Monday. APE shares come with the same rights as common shares of AMC and can be converted into common stock.
Along with the free movie tickets for Investor Connect members, a free non-fungible token is being offered to all members of Investor Connect that features the words “I OWN APE.” The new NFT is similar to a previous Investor Connect free NFT that said “I OWN AMC” on it.
AMC shares were trading down double digits on Monday, a move that Aron tried to clear some confusion on over the weekend.
“Remember, with the APE seeing its first trade on the NYSE at some time tomorrow morning, the value of your AMC investment will be the combination of your AMC shares and your new APE units,” Aron said on Sunday.
In AMC’s recent quarterly earnings report, Aron remained bullish on the outlook for the company and the overall movie theater industry. The CEO sees a slight drop in the number of big movies being released in the third quarter months of August and September.
The fourth quarter and 2023 lineups have been cited by Aron as some of the strongest in recent history.
“Don’t forget the ever so much anticipated sequels to Black Panther, Shazam and Avatar. So too should the movie slate for 2023 make us smile,” Aron said. “We look forward to Q4 of 2022 and calendar year 2023 with glee.”
AMC Price Action: AMC shares are down 31.37% to $12.36 Monday morning. APE shares were trading 41.58% higher to $9.84 after being halted on a circuit breaker early in the session.
Photo via Shutterstock.
