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It appears the CEO of AMC lost his pants despite the meteoric rise of the theatre company’s meme stock.
As Adam Aron lost control of his web camera during a live YouTube interview, the screen briefly flashes below his light blue shirt and red tie to reveal either a really short pair of short shorts, or a skin-coloured pair of pants, or no pants at all.
Mr Aron recovered the camera and continued his hour-long interview about the company and, among other things… naked shorts, with Trey Collins from the popular YouTube channel Trey’s Trades on 3 June. Naked short selling is the illegal practice of short selling shares that haven’t been confirmed to exist.
After Mr Aron was seemingly caught with his pants down, AMC Entertainment Holdings Inc fell from its high of $67.46 on Thursday to $48 on Friday, but it recovered slightly to trade around $58 Monday morning.
AMC did not respond to The Independent for confirmation of whether the CEO had no clothes.
The company also didn’t respond to attempts to get to the bottom of the investor engagement strategy by VICE News, which was first to report the missing pants, after Reddit community r/WallStreetBets made the meme stocks CEO a meme himself with 70,000 upvotes.
The hashtag #ApesDontWearPants” quickly went viral online, in reference to AMC retail investors like Mr Collins. Mr Aron’s interview was billed by Trey’s Trades as the “Return of the Silverback”.
The Twitter account for the missing trousers “AdamAronsPants” sprung up to boost the stock and its retail investors, “pants optional”.
During the interview itself, Mr Aron was shown to be without pants while promising investors the company wasn’t planning on selling any more shares after they filed to sell 11.5 million amid the trading bonanza.
“If I was a shareholder, I would be more concerned that we don’t have shares available to us because I think shares are a very powerful tool to do good things for a company. Look at the $1.6 billion of cash that we brought into AMC between January and May by using shares. That’s very good for AMC, that strengthens AMC, that helps make sure that our long-term future is very bright, and right now we don’t have that…” Mr Aron said before the apparent wardrobe malfuncion.
“Um… we don’t have that tool at our disposal because we’ve used up all of but 46,000 shares that have been authorized.”
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