After selling his Bentley to buy a Model Y:
“[FSD Supervised] is life-changing.
I was on the phone with my brother last night, and I made him buy one. He literally bought one while we were talking.
I’m buying 10 of my employees a Tesla with FSD. It’s 8x safer than the average driver.
There’s nothing more important than the safety of you and your loved ones.”
I want to extend my highest praise to Paul Atkins, Chairman of the U.S. Securities and Exchange Commission, for the wise decision — perhaps a better characterization being the brilliant decision — he announced today on behalf of the SEC about Stock Tokens.
The SEC granted a five year period of experimentation on this topic in U.S. markets. In doing so, the SEC laid out some inviolate and unequivocally annumerated conditions:
The SEC highlighted that “Investor Protection Is Not Optional.” The SEC clearly laid out that even as it puts forward an “Innovation Exemption,” the SEC has an implicit right to govern on this issue. This means that at least within the U.S., there is an underpinning that appropriate regulatory bodies can regulate
as they think is needed. I believe that over the last full century, investors have best been protected when U.S. regulatory bodies have been involved and U.S. securities laws have been applicable. Thank you, SEC.
The SEC also emphasized that there can be “No Synthetics.” Any such Stock Tokens must carry full voting and dividend rights. No synthetics is such a vital and basic concept. Thank you, SEC.
Also of crucial importance, the SEC mandated that “Issuers Can Object.” It said that issuers of stock must have the opportunity to object and prevent their security from being trading on a Tokenized Securities Venue if companies so choose. This puts companies in charge of their own securities and capital structures, not brokerage houses. Thank you, SEC.
I applaud what the SEC did today. Bravo!
And @vladtenev and @dangallagher I note that at Robinhood you accepted and supported the SEC’s ruling today. I call on you now to adhere to the exact same standards internationally. How hypocritical would it be if Robinhood’s stock tokens abroad were to differ materially from stock tokens in the U.S. on these hyper-important matters of investor protections, synthetics and issuer objections.
Adam Aron
Chairman and CEO
AMC Entertainment
Standard & Poors Research Update:
AMC Entertainment Holdings Inc. Upgraded To 'B-'
From 'CCC+' On Improved Operating Performance;
Outlook Stable
July 28, 2026
Rating Action Overview:
• AMC Entertainment Holdings Inc.
reported record revenue and EBITDA in the second quarter
of 2026, reflecting continued momentum in the box office. S&P Global Ratings now believes the company has a path to generate sustained positive reported free cash flows.
• Therefore, we raised our issuer credit rating on AMC to ‘B-’ from ‘CCC+’.
• At the same time, we raised our issue-level rating on its $2 billion first-lien term loan to ‘B+’
from ‘B’, Muvico LLC secured notes and 7.5% AMC secured notes to ‘B-’ from ‘CCC+’, Odeon
first-lien term loan to ‘B’ from ‘B-’, and $112 million exchangeable notes to ‘CCC’ from ‘CCC-’.
• The stable outlook reflects our view that AMC will sustain improved operating performance
over the next 12 months, generate positive reported free cash flow in 2027, and maintain
adequate liquidity.
THE DAY AFTER. It was such a distinct pleasure, so immensely satisfying, to be able to report to you yesterday that our second quarter of 2026 with $321.4 million of Adjusted EBITDA was the single best quarterly result in AMC’s entire 106-year history.
With 71 million guests in our theatres, we also had the highest revenues in AMC history, and managed our costs well.
We have generated $228 million more EBITDA in the first half of 2026 than we did in the first half last year.
We finished the quarter with $778 million of cash on hand.
The best way to silence the critics and make the naysayers irrelevant is to produce undeniably good results, in this case for Q2 record results, and that is precisely what AMC has been doing throughout 2026.
To those Apes who stood by us along the way, and especially to those who are with us still, I am not exaggerating in saluting the role you all played in saving moviegoing and saving movie theatres and saving AMC.
Because of your support, your children and grandchildren should be able to continue to enjoy… in theatres… seeing dazzling images on our huge silver screens, just as people have done to their great delight for more than a century.
$TSLA just posted a video of them tearing down the Model S/X production line in only 46 days.
Getting it ready for Optimus production that produces 1 million/year.
$AMC is refinancing $2.5B debt to:
1. push out the $400M 2027 Odeon notes & ~$2B of 2029 debt (likely to 2031-2032).
2. Will reduce interest rates, likely saving ~$40M/yr.
3. Leaves a more manageable ~$857M amount due in 2029.
4. Derisked until 2029.
Shorts r ducked!