Bank of America and JP Morgan continue to bet against AMC despite the repercussions.
Like hedge funds, banks have also been under much public scrutiny for betting short in the market.
Regulators subpoenaed some of the largest banks and hedge funds after investigating communications between the two parties earlier this year.
Goldman Sach’s dark pools were investigated in May – a popular issue amongst the retail community.
Combined, hedge funds and banks have millions of shares working against the largest movie theatre chain in the world.
And in this article, I’m going to break down the most recently reported numbers.
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Bank of America bets against AMC Theatres
Bank of America increased their short bets against AMC in May, according to this Fintel report.
The bank now holds a total of 1,007,500 puts of AMC Entertainment Holdings, Inc. stock.
Retail investors were shocked to discover BofA was one of the top 10 financial institutions betting against the movie theatre chain last year.
And they haven’t left, but rather remained bearish on AMC.
The ball might be in their court in today’s bear market, but retail investors are already weary of the market’s integrity.
Last year, hedge funds sought out to destroy the movie theatre chain by shorting it to bankruptcy.
But retail investors put a stop to the madness – saving AMC Entertainment from collapsing, and inflicting billions of dollars in damage to short sellers.
Retail investors even closed their bank accounts with Bank of America after discovering the bank was betting against the beloved movie theatre stock.
Meme stocks were no joke.
Corporate fraud and corruption were exposed, retail made money, and the media lost all credibility.
But Bank of America isn’t the biggest bear when it comes to AMC stock.
Here’s a list of other banks and hedge funds going short on AMC.
Institutions shorting AMC stock
#1. Susquehanna – 11,004,100 shares short
#2. Citadel – 4,889,900 shares short
#3. Goldman Sachs – 2,785,00 shares short
#4. Group One – 2,221,900 shares short
#5. 683 Capital – 1,992,600 shares short
#6. Bank of America – 1,007,500 shares short
#7. Wolverine Trading – 921,400 shares short
#8. Piction Mahoney – 500,000 shares short
#9. JP Morgan – 400,000 shares short
None of these institutions have closed their positions in AMC.
One hedge fund that was removed from the list is Sculptor Capital LP – the institution closed their small position at a loss this year according to Fintel.
Anchorage Capital closed last year after betting against AMC.
The hedge fund held 4,000,000 puts prior to shutting down.
Even Gabe Plotkin’s Melvin Capital is shutting down in June after GameStop crippled the short seller last year.
Bank of America might have increased their short position in AMC, but is it wise to bet against retail?
Retail has power, and I think retail is about to prove it again very soon.
I’m interested to learn what you think.
Leave your thoughts in the comment section of the blog below.
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About The Author
Un título muy FUD, para quien no lea el resto..
Y esto puede haber sido hace meses.
Yo sigo manteniendo y si puedo comprando. Saludos
When will Melvin Capital be closed and when will shorted shares have to be repurchased?
What you really know about BOA CEO Brian Mounyhan? I can guarantee I know more and I will never trust him !
I hold AMC to expose and punish these short sellers for their crimes
All apes need to buy some more AMC…keep applying the pressure! Even if only a few shares each – there’s power in our numbers.
Buy and hold as long as it takes
This is the way.
They probably have no choice but to increase. I’m sure they’re hanging on by a thread and doing all they can to survive.
True. What else can they do? If they start to cover, they are screwed if they short more they are screwed too but when the only tool you have is a hammer all your problems start looking like a nail.
FUD ??? Everybody Knows about BOA
There’s been a recent increase in short position – this article is meant to further expose the bank.
Let’s start a discussion! Leave your thoughts below.
Shorting a stock and having puts are two entirely different things. With all due respect, I think you may have confused the two when you said, “Bank of America increased their short bets against AMC in May, according to this Fintel report.
The bank now holds a total of 1,007,500 puts of AMC Entertainment Holdings, Inc. stock.”
Thank you so much for writing this article, though. There is nothing wrong with shorting a stock, but what these hedge funds and banks have done is nothing short of financial treason, and it floors me that this is allowed to go on in this country. The things that we have exposed seem more like something you would expect out of Russia or North Korea.
this list contains around 25 millions of shares , is there a complete list (the best it could be ,official but excel converted) made by anyone ?!
thx
25 million puts they don’t have to report short sells