AMC Stock Surges 21% After CEO Blasts Robinhood Over Tokenized Shares
AMC Entertainment Holdings stock jumped nearly 21% in overnight trading. Shares reached $3.07. The sharp rise followed strong comments from CEO and Chairman Adam Aron.
Adam Aron Calls Robinhood’s Move “Outrageous”
Aron criticized Robinhood for offering tokenized versions of U.S. stocks, including AMC. In a social media post, he called the practice “contemptible, outrageous, disgusting, detestable, inexcusable, and vile.”
He questioned how the offering could be legal. Aron stressed that AMC has no connection to these tokens and does not condone them. The company will have its outside securities counsel review the matter right away.
What Are Robinhood’s Stock Tokens?
Robinhood’s own documents explain the product clearly. The tokens are tokenized debt securities. An offshore affiliate called Robinhood Assets issues them.
These tokens give holders exposure to the underlying stock. They do not provide legal ownership of the company. Holders also receive no shareholder rights.
Robinhood states that the tokens have not been registered as securities in the United States. The company notes they may not be offered in the U.S.
Robinhood CEO Responds
Robinhood CEO and Chairman Vlad Tenev replied to Aron’s post with a short question: “What’s the concern?”
Similar Criticism From OpenAI
This is not the first time Robinhood has faced pushback. OpenAI previously rejected token offerings tied to its company. OpenAI said the tokens were not real equity. It confirmed it had not partnered with Robinhood or approved any share transfers.
At the time, Tenev described the tokens as derivatives rather than actual equity. He argued that tokenization should not require approval from the companies involved.
Growing Market for Tokenized Stocks
Tokenized stocks continue to gain popularity. They allow round-the-clock trading, faster settlement, and access through crypto wallets. Global investors can more easily reach regional equities this way.
The total market value of tokenized stocks reached $13.4 billion as of September 1. That figure is up from just $2.5 billion at the start of the year.
AMC’s strong overnight move shows how investor attention can shift quickly when company leaders speak out on emerging financial products.
