One of the weirder stock market stories that has remained somewhat parallel to GameStop (GME) in 2021 has been the matter of AMC. Like GameStop, AMC was struggling, especially with the crippling effects of the pandemic. However, it was also somewhat lifted out of its dreary state by the activity of a multitude of retail investors who increased the stock’s value at the beginning of this year. Since then, AMC has been scraping to keep its stock’s stronger position, even going as far as to get involved with cryptocurrency. Most recently, the company gauged public interest in Dogecoin and now it's figuring out how to accept the meme crypto as a proper currency.
AMC’s latest cryptocurrency shenanigans were announced by CEO Adam Aron on his personal Twitter today. Aron recently ran a Twitter poll in which he wanted to gauge interest of voters in AMC accepting Dogecoin as a currency for payment. This followed AMC’s confirmation that it would be allowing popular cryptocurrencies like Bitcoin and Etherum as payment on AMC transactions for movie tickets and food by the end of 2021.
SO FASCINATING! Dogecoin Poll was by far my highest ever read tweet. In 24 hours, 4.2 million views, my most ever retweets, most ever replies. 140,000 votes 77% yes 23% no. It’s clear that you think AMC should accept Dogecoin. Now we need to figure out how to do that. Stay tuned! pic.twitter.com/tkClzgMBMO— Adam Aron (@CEOAdam) September 22, 2021
Following the Twitter poll’s conclusion, it would appear that Aron and AMC will pursue the possibility of adding Dogecoin to that list of accepted crypto. Dogecoin itself has also seen a major boost in popularity and value throughout the year, thanks in part to interest from similar quick trading groups that boosted GameStop, as well as Elon Musk and Tesla. It went from under a penny in value to a high of $.70 USD in May. It currently sits around $.20 per unit, but hasn’t faded anywhere near that ultra low value it skyrocketed from.
This wouldn’t be AMC’s first effort to keep relevancy going in the ongoing stock craze. Aron previously stated that he’d also be open to a partnership with GameStop, though the specifics of how or why that would work were never discussed. Nonetheless, Doge was popular enough on a Twitter poll to convince Aron that AMC needs to roll the meme currency into its ongoing strategy. As the company works these things out, stay tuned for more details and information on this ongoing story.