AMC CEO urges Robinhood to halt AMC stock token trading immediately

AMC Entertainment CEO Adam Aron renewed criticism of Robinhood CEO Vlad Tenev over the controversy surrounding AMC stock tokens and called on Robinhood to voluntarily halt trading in the token immediately. In a post on X, Aron argued it was shocking and shameful for a U.S. company, Robinhood, to operate from the island of Jersey far from the United States while offering a security similar to AMC without following U.S. securities laws. Aron also said the synthetic stock market separates a company’s control over capital raising from token ownership and does not give investors the rights granted to actual shareholders, including voting rights. Aron added that if Robinhood does not stop trading, Aron will review through securities lawyers whether it can be blocked by force and will also raise the issue with the SEC. Aron had previously criticized Robinhood’s AMC stock token, after which Tenev challenged the criticism by asking, "What's the problem?"