AMC CEO: Twitter is 'a very valuable national asset — if it's run well'

Brian Sozzi · Executive Editor

Updated Wed, Nov 9, 2022, 3:18 AM 2 min read

Musk, who is also CEO of Tesla and SpaceX, has had an eventful couple of weeks as Twitter's owner. Notable events include laying roughly half of the company's employees, moving to hire back some of those employees, spreading misinformation about an attack on the Speaker of the House's partner, sharing a meme featuring a Nazi Germany soldier, recommending that Americans vote Republican in midterm elections, and selling more Tesla stock as Twitter hemorrhages money amid a monumental debt servicing task ahead.

Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla, checks out the SpaceX Hyperloop Pod Competition II in Hawthorne, California, U.S., August 27, 2017. REUTERS/Mike Blake — Elon Musk, CEO of SpaceX and Tesla, checks out the SpaceX Hyperloop Pod Competition II in Hawthorne, California on August 27, 2017. REUTERS/Mike Blake · Mike Blake / reuters

Aron said he spends about an hour each day on Twitter to read investor and user feedback, sending replies where appropriate.

"And if you just look back over the last, what is now a year and a half that I've actively been tweeting with our shareholder base, we've been able to convey hundreds and hundreds of important messages to you all about what's going on in our company," Aron said. "And I've been able to read literally, hundreds of thousands of inbound comments back to us."

When he isn't tweeting, Aron is presiding over the largest movie theater chain in the country.

On Tuesday, AMC reported that third quarter sales rose 26.9% from a year ago despite a more muted box office release slate. Attendance increased 32.9% from a year ago. The adjusted operating loss rose to $12.9 million from a loss of $5.4 million a year ago.

AMC shares fell more than 4% in pre-market trading on Wednesday after ending up more than 5% on Tuesday.