AMC Entertainment CEO Mocks Short Sellers for The Second Time
CEO & President of AMC Entertainment Adam Aron mocked short sellers for the second time on Twitter.
The first time was during an earnings call saying shorts should be scared.
AMC Entertainment’s CEO has always been more focused on the business than on the culprits shorting the company stock.
However, on Wednesday February 16th he had something to say about the DOJ investigating short sellers for driving down the prices of stocks.
Needless to say, the community is loving his acknowledgement on the matter.
Welcome to Franknez.com – There’s been a lot of news circulating throughout the community recently. In this article I’m breaking down what’s happening today.
Let’s dive right into it!
Regulators are taking Morgan Stanley and hedge funds to court
The SEC sent subpoenas (court orders) to Morgan Stanley, Goldman Sachs, and several hedge funds to determine whether there have been improper communications between the two parties.
Regulators are identifying whether there has been any collusion between banks and hedge funds to drive the price of stocks down.
If you’re one of the several millions of investors who’s been holding AMC stock many months to over a year now, you’ll understand the various ways the stock is being manipulated to benefit the short seller.
Will this new culture of investors make a difference today?
I certainly think so.
Hedge funds never anticipated retail investors would fight back after they restricted people from buying ‘meme stocks’ early last year.
The people’s voice has now been heard and it’s up to regulators to enforce the law and create real change.
Today’s investors are made of massive communities fighting for a fair market and company stock they believe in.
The Justice Department is now involved.
Read: 95% of retail orders don’t go through lit exchange
Citadel is one of the firms being investigated
Bloomberg just released a statement officially announcing that Citadel is one of the hedge funds being investigated by the Department of Justice.
The retail community has raised awareness for over a year now in regard to the market manipulation conducted by these hedge funds.
Hedge funds have been suppressing share prices across the market without any serious consequence other than fines that allow them to continue the abuse.
Now regulators seem to be taking a little more serious action.
Here’s a list of the top 10 financial institutions shorting AMC stock:
- Simplex Trading LLC
- Susquehanna International Group LLP
- Citadel Advisors LLC
- 683 Capital Management LLC
- Anchorage Capital Group LLC
- Group One Trading LP
- Wolverine Trading LLC
- Bank of America Corp DE
- Millennium Management LLC
- Piction Mahoney Asset Management
Citadel is one of the top 10 financial institutions shorting AMC along with Bank of America.
We saw Anchorage Capital close after betting against AMC with millions in puts.
I’m curious whether BofA has also received a subpoena.
AMC Entertainment’s CEO Adam Aron has remained relatively quiet about his company being shorted.
He mentioned shorts ‘should be scared’ during one of the earnings call last year but that was about it.
The mock on Twitter was surprising yet exhilarating to the community as it demonstrated a sort of ‘scoff’ towards short sellers.
Leave a comment below what you thought about this tweet.
Will ‘meme stocks’ squeeze?
AMC Entertainment stock is one of the so called ‘meme stocks’ that has been under attack by heavy short selling.
And while there’s nothing illegal about short selling, market makers and hedge funds have been driving AMC’s share price using various predatorial strategies.
Some of which include excessive dark pool trading, OTC trading, and naked shorting.
Regulators must lift the suppression imposed on ‘meme stocks’ such as AMC and GameStop for these stocks to run up based on retail demand.
In this article, I go over data that shows the community has not been selling AMC or GME stock despite the plummeting prices.
What are your thoughts on the current market news?
What do you as a retail investor want to see change within the markets?
Leave a comment below.
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No cell ,no sell
Let’s start a discussion.