- AMC CEO Adam Aron condemned Robinhood’s stock tokenization plans, calling the digital tokens “fake, synthetic shares.”
- Aron warned the tokens could impact AMC’s ownership structure and said the company should control its financial destiny.
- Robinhood CEO Vlad Tenev defended the program, arguing companies shouldn’t control every legal use of their shares.
- The feud escalated ahead of AMC’s Q3 earnings, with analysts projecting a $0.16 per-share loss.
On Thursday, AMC Entertainment Holdings Inc. CEO Adam Aron launched a blistering attack on Robinhood Markets Inc. executives Vlad Tenev and Dan Gallagher over the broker’s stock tokenization plans. Aron took to X to launch a broadside that denounced Robinhood’s creation of digital tokens tied to AMC shares without company consent.
“AMC Entertainment does not consent to Robinhood creating Stock Tokens to replicate AMC shares in the United States,” Aron wrote, calling them “fake, synthetic shares” that could impact the company’s capital structure. “AMC should control our financial destiny, not Robinhood.”
Robinhood’s stock tokenization program lets international investors trade digital tokens linked to U.S. stocks around the clock. However, the tokens track stock prices without granting holders direct ownership or voting rights.
Last month, Robinhood executive Johann Kerbrat said the platform plans to let eligible token holders exchange their tokens for actual shares and gain voting rights. Consequently, Aron has opposed the initiative, stating token holders could gain exposure to stock prices without receiving full shareholder rights.
Meanwhile, Robinhood CEO Vlad Tenev has defended the program, saying companies should control shareholder rights but not every legal use of their shares. The confrontation comes ahead of AMC’s Q3 earnings next month, with analysts projecting $1.4 billion in revenue and a $0.16 per-share loss.
Citi recently raised its price target for AMC to $2.20 from $1.80 but maintained a Sell rating, citing concerns about the company’s high debt. AMC stock has surged 93% year-to-date, while Robinhood stock has dropped 8%.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
