AMC Soars as Robinhood CEO Signals Truce with AMC
Shares of AMC Entertainment (NYSE:AMC) surged 5% to $2.47 midday Friday after Robinhood Markets co-founder and CEO Vlad Tenev signaled openness to defusing a public feud with AMC CEO Adam Aron over tokenized shares.
The catalyst was Tenev's softer tone on the issue, which he described as 'hugging it out' at the Goldman Sachs Communacopia and Tech Conference this week. However, no concession has been extracted by AMC.
Coinbase Global (NASDAQ:COIN) also gained 3% to $177.20, as investors reassessed the political temperature around on-chain equities. Cinemark Holdings (NYSE:CNK), with no crypto exposure and no dispute with Robinhood, saw its stock remain unchanged at $35.08.
Rohanhood's (NASDAQ:HOOD) operating metrics showed growth across funded customers, platform assets, and trading volumes this week, but the company's stock barely budged, down 0.4% to $112.85.