CLOSING THE CURTAIN: Popular movie theater chain goes private after selling final stocks
The sale was for estate planning purposes under a 10b51 plan disclosed on AMC's second quarter earnings call in August. Since November, Aron has sold more than $40 million worth of the company's shares.
"Prudent estate planning suggests I should diversify my assets a bit, especially with Congress having been discussing imposing potentially soaring capital gains tax rates and significant changes to what can be passed on to one's heirs," Aron told investors and analysts at the time."I am in!" he added.
However, the stock's momentum has slowed, falling 44% in the past six months and 17% in 2022. Shares dropped over 3% during Thursday's trading session.
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