Free Live Daily Updates: AMC Short Interest Today + More.
Community, I’m going to be updating this list of momentum stock and their short interest and utilization daily (AMC short interest, BBIG, MULN, BIOR, GME, APE, and many others).
Be sure to bookmark this page for daily AMC short interest updates and more.
Other metrics being updated daily will include the cost to borrow, shares on loan, + short squeeze scores.
If there are other heavily shorted stocks you’d like me to update daily, please leave a comment below and I’ll be sure to look into them before adding them to the list!
– Frank Nez
What has investing in the stock market taught you?
Market News Daily – More Than 50% of AMC Stock is Now Trading Off Exchange This Month.
The latest dark pool and off exchange data shows that more than 50% of AMC stock is currently trading off exchange this month already.
According to Chart Exchange, AMC Entertainment’s (NYSE:AMC) trading volume in off exchanges is currently between 50% and 59%.
On Tuesday, off exchange volume peaked at 59.47%.
Wednesday saw 56% volume happening outside the lit exchange.
At the time of this publication, AMC stock is trading at $8.21 post reverse split.
Is off exchange trading suppressing AMC’s true demand from retail investors?
The possibility is rather likely.
Gary Gensler announced last year that 90%-95% of retail orders do not go through the lit exchange.
We The Investors asked the SEC Chairman if dark pools suppressed the price of stock and whether retail investors could influence the price of a stock if majority of orders traded in the lit exchange.
While there was no direct answer to the suppression of price, the Chairman says that with so much trading happening off-exchange, he doesn’t think it’s a leveled playing field as “dark pools give institutions an unfair advantage.”
“Retail investors as individuals don’t have the power to move the markets, but retail orders combined could have significant price impact.”
AMC stock is currently down more than -76% this year-to-date and down more than -88% in the past year.
Market News Daily – More Than 50% of AMC Stock is Now Trading Off Exchange This Month.
Dark pools are privately organized platforms, also known to be an alternative trading system accessible to only institutions.
Dark pool trading, or off-exchange trading has risen substantially since Gary Gensler was appointed Chair of the Securities and Exchange Commission (SEC) in April of 2021 by President Joe Biden.
But SEC Chairman and Commissioner Gary Gensler says payment for order flow is partly the reason why orders aren’t processed on the lit exchange.
He says retail orders go to wholesalers on an order-by-order competition.
Citadel’s Ken Griffin has praised PFOF stating it’s good for retail investors; however, in 2004 Citadel stated payment for order flow “creates conflicts of interest and should be banned”, according to an SEC file.
PFOF allows market makers to process retails orders in the ‘dark markets’, or dark pools, per SEC Chairman Gary Gensler.
See, the thing is that the SEC actually has the power to ban dark pool trading.
Why dark pool trading has risen since Gary Gensler took office is something the retail community is trying to comprehend.
When more than 50% of a stock’s trading volume goes to dark pools, the demand is cut by 50%, often times more depending on the trading day.
Half (or more) of retail’s money is not being reflected per the real demand of a security when trading has been rerouted to dark pools.
In other words, dark pools seem to allow institutions to suppress shares from rising based on the true demand of a security.
Then of course there are other means of driving shares down such as through spoofing, naked short selling, and short and distort campaigns.
But I’d love to hear your thoughts on this – leave a comment down below.
Market News Published Daily 📰
Market News Today – More Than 50% of AMC Stock is Now Trading Off Exchange This Month.
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Market News Daily: Ex-Citadel employee Patrick McConlogue says the market is rigged.
Patrick McConlogue, an ex-Citadel Data Scientist said during the ‘meme stock’ frenzy that the stock market is rigged, claiming he helped design it.
“The game is not fair and it never has been. Individual investors, even when operating in a swarm, are destined to lose. How do I know? I helped design the game.”
Not many investors know this, but Patrick actually breaks down how Citadel and other hedge funds were able to make billions back in only weeks from halts.
In this article, I’m going to share his words and knowledge in the industry directly with you.
Share this article to raise awareness of the market injustices ‘experts’ have claimed were never true.
Ex-Citadel employee Patrick McConlogue says the market is rigged.
Patrick McConlogue appeared on Fox Business during the ‘meme stock’ frenzy of 2021 when retail investors created one of the biggest scares in Wall Street history.
GameStop and AMC shareholders were able to create panic on Wall Street by heavily buying shares of the overleveraged shorted stocks.
As share prices soared, short sellers experienced massive losses.
GameStop was able to put Melvin Capital out of business, but Patrick McConlogue says other hedge funds were able to make back billions in losses during the halt.
The halts allowed hedge funds to enter AMC and GameStop knowing shares would plummet, allowing them to capitalize on the deflation of the price.
Patrick says the rules of the game also heavily favor hedge funds, something retail investors have urged SEC Chairman Gary Gensler for years to change.
“I respect many of my colleagues, the problem isn’t the people, it’s the rules of the game which heavily favor the funds.”
Below is ex-Citadel Data Scientist Patrick McConlogue’s story.
Patrick McConlogue Says the Stock Market is Rigged
Ex-Citadel employee Patrick McConlogue says the market is rigged.
“The game is not fair and it never has been. Individual investors, even when operating in a swarm, are destined to lose.
How do I know? I helped design the game.
A few years ago, I worked at the massive hedge fund Citadel. The multi-billion dollar fund was caught up in this week’s scandal for bailing out hedge fund Melvin Capital after everyday traders on Robinhood appeared close to liquidating the fund through mass buying of the GameStop stock $GME.
My role at Citadel was as an engineer in Long Term Quantitative Strategies. The entire department, filled with programmers and compliance officers, is dedicated to something called ‘alpha’ which determines the buying strategy of the fund.
I was responsible for innovative proprietary technology that capitalizes on public data faster than any other hedge fund. It’s a classic situation of machines against humans. I respect many of my colleagues, the problem isn’t the people, it’s the rules of the game which heavily favor the funds.
A group of traders on the r/WallStreetBets Reddit thread, now consisting of over 8.6M members, noticed that someone had overly “shorted” the GameStop $GME stock.
They decided it was the perfect time to buy. It was only around $18 per share and easily affordable for the common investor who kept buying, driving up the price of the stock.
As the buying frenzy continued the hedge funds who had taken the opposite position started to hemorrhage money.. BIG money.
The small investors celebrated their success online as news broke that the hedge fund Melvin Capital Management had lost so much on the $GME short position that they had to be bailed out by bigger hedge funds.
While the markets were closed Melvin Capital’s sinking battleship received an emergency infusion of $2.75 billion from Citadel and Point72.”
‘Meme Stock’ Halts
Ex-Citadel employee Patrick McConlogue says the market is rigged.
“On Thursday morning, Robinhood — the commission-free stock trading app used by small investors — suddenly shut down buys on $GME and a few other stocks that were under siege.
Only sell orders went through, reversing the trend, driving the stock prices back down and shoring up the hedge funds’ sinking ships. Remember, when the stock price goes down, the people who hold the “shorts” make money.
This started a chain reaction. Other retail trading platforms like E*Trade and TD AmeriTrade began freezing the stock for individual investors. But hedge funds own supercomputers.
They have direct access to stock markets. While small investors were frozen the hedge funds traded massive positions and quickly earned back the billions in losses from the past few days.
The rules of the game had been exposed, in broad daylight no less.
Robinhood users, when signing up for the popular trading app that offered “free trading” were likely unaware of their role in the hedge funds’ ability to reap huge profits.
The system is broken.”
Patrick McConlogue left Citadel for decentralized finance and co-founded a new technology called Overline that takes the philosophy of DeFi to the extreme.
Not only is Overline unable to freeze any of your assets but it can’t even turn off the exchange; it’s not possible.
Market News Daily – AMC Is Now Hit With a New Class Action Lawsuit.
AMC Entertainment (NYSE:AMC) has now been hit with a new class action lawsuit following its approved settlement after months of dealing with litigation.
CNBC reports that a holder of APEs said in the lawsuit, which was filed late on Monday but hit the public docket on Tuesday, that APEs investors are being shortchanged in the settlement that was approved on Friday.
AMC did not respond to a request for comment.
AMC agreed to settle its previous class action by holders of common stock by providing them with additional shares worth an estimated $129 million.
The company’s reverse stock split is scheduled to go into effect on Thursday, August 24.
The conversion of APE shares into AMC common stock will occur the following day, Friday August 25.
And the litigation settlement will then take place on Monday, August 28.
Shareholders of common AMC stock had initially claimed that the company rigged a shareholder vote against them.
“The lawsuit adds to months of legal turmoil for the company. Objections to shareholder class action settlements are rare, but AMC received thousands from investors who questioned claims about the company’s dire finances.
The settlement was initially rejected by a Court of Chancery judge in July before the judge signed off on a revised deal on Friday,” said CNBC.
AMC stock has fallen more than -3% on Wednesday while APE shares have only risen +0.25%.
Despite a new AMC class action lawsuit, hedge fund CEO Bruce Richards now says he’s ‘super bullish’ on AMC’s new APE conversion as the proposed rule is expected to go into effect next Thursday.
Hedge Fund CEO Now Says He’s Super Bullish on New APE Conversion
Market News Daily – AMC Is Now Hit With a New Class Action Lawsuit.
Bruce Richards is the CEO of Marathon Asset Management, which manages a family of investment programs focused on credit strategies including hedge funds, managed accounts, single-client funds and collateralized loan, and debt obligation vehicles.
Richards is rather enthusiastic about AMC Entertainment’s ability to raise as much as $8 billion, though he states his team thinks $1 billion to $2 billion is more realistic.
“I wouldn’t worry about the writers strike, and the box office numbers look like record numbers to us, and greater than pre-covid number, in terms of revenue, so, we’re super bullish, but think about that,” he told Squawk on Tuesday.
“We can make a +17% return, +10% on the cash, and the +25% price pop on price, and we can make this return, we think it’s a high tang return for taking senior bank debt risk in a very top of capital structure of AMC. We think the smartest play for AMC is actually buying the bank debt which is going to parr, which is offering these staggering returns for the unit of risk that you’re taking.
Richards says that AMC is great company and joked that he tried to get in to see Barbie and Oppenheimer but that he was turned away at the door twice due to tickets being sold out.
“I will go before the summer is over, I promise”, he stated.
Richards’ optimism certainly brings forth an excitement that hasn’t been seen in quite some time.
Will this APE conversion trigger an AMC short squeeze? I’m curious to know what you think.
Market News Published Daily 📰
Market News Today – AMC Is Now Hit With a New Class Action Lawsuit.
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Market News Daily – Mullen Is Now Introducing The New Mullen FIVE RS.
Mullen Automotive (NASDAQ:MULN) is now introducing the new Mullen FIVE RS, an EV sports crossover which will be featured at this month’s “Strikingly Different” EV Tour on August 20, in Austin, Texas.
The FIVE RS is equipped with 800-volt architecture, all-wheel drive, a two-speed gearbox, and over 1,100 horsepower!
According to the company, the Mullen FIVE RS is an ultra-high-performance EV featuring a top speed of 200 mph and acceleration from 0-60 mph in under 2 seconds.
Equipped with 800-volt architecture, all-wheel drive, a two-speed gearbox, and over 1,100 horsepower, the vehicle has a performance-oriented suspension and massive 325/35R21 front and rear tires.
Specifically developed brakes provide quick stopping for the RS, which is fully race prepped to allow occupants to experience max-performance potential.
“I want to encourage shareholders to continue sharing thoughts and opinions with Mullen, and remember we are working together to achieve great things, including pushing the boundaries of EV performance and electrifying the world,” said David Michery, CEO and chairman of Mullen Automotive.
Due to the high-powered capabilities of the FIVE RS, consumers will not be allowed to test drive the vehicle directly.
Instead, Mullen will offer consumers the opportunity to ride in the Mullen FIVE RS alongside a professional race car driver, providing an up-close and personal experience in one of the fastest vehicles available globally.
Mullen will offer “front row” FIVE reservation holders the first chance to experience the Mullen FIVE RS in person on the “Strikingly Different” U.S. test drive tour.
More details on the upcoming tour can be accessed here.
On Wednesday, shares of the stock have fallen more than -3% putting pricing below Nasdaq’s $1 bid requirement.
Will MULN stock be able to remain in compliance long enough before it gets shorted back down again?
Mullen CEO Speaks on New Reverse Split and Short Sellers
Market News Daily – Mullen Is Now Introducing The New Mullen FIVE RS.
Mullen Automotive CEO David Michery speaks on the company’s new reverse stock split as well as short sellers.
“We believe the Company is highly undervalued and the stock buyback program represents a compelling use of our capital, reflecting confidence in our business,” said David Michery, CEO and chairman of Mullen Automotive.
The proposal received 221,098,224 ‘votes for’ a reverse stock split, and 103,280,513 ‘votes against’ it, with 1,415,758 abstentions.
A 1 for 9 split would put MULN stock at just $1, which investors criticize leaves no wiggle room as the company continues to be a target for short sellers.
A user on Twitter shared a message between him and the CEO where he made the following statement:
“At this point, we’ve done the minimum reverse possible to try to regain compliance.
The rest will be in the retail, shareholders hands, if the stock stays above a buck or doesn’t.
At this point, we put our faith in the shareholders and retail traders.
All the good people need to rally against the individuals that are shorting the stock with malice intent, not to make money, but to cause delisting, that’s what they are doing.”
Mullen Automotive announced in July that it has been investigating naked short selling activity since April of this year.
How far this investigation will go is unknown, especially now that Congress has stated that not all naked shorting is deemed ‘illegal’.
Just last week, the New York Stock Exchange (NYSE) also commented on naked short selling in a new response to the concerned public.
AMC Shareholders Have Now Saved The Movie Theatre Company Again
Market News Daily – AMC Cost to Borrow Skyrockets to 1000%.
AMC shareholders have now saved the movie theatre company again after two major proposals were finally passed following an exhausting lawsuit.
A reverse stock split and conversion of APE shares to common stock will now go into effect later this August.
AMC’s 1-for-10 reverse stock split will go into effect on Thursday, August 24.
The conversion of APE shares into AMC common stock will occur the following day, Friday August 25.
The litigation settlement will then take place on Monday, August 28.
CEO Adam Aron says these dilutive proposals will help AMC Entertainment raise plenty of cash to survive another catastrophic event.
“AMC must be in a position to raise equity capital. I repeat, to protect AMC’s shareholder value over the long term, we MUST be able to raise equity capital.
That is especially the case now with the added uncertainty caused by the writers and actors strikes, which could delay the release of movies currently scheduled for 2024 and 2025.
If we are unable to raise equity capital, the risk materially increases of AMC conceivably running out of cash in 2024 or 2025, or of AMC being unable to satisfactorily refinance and stretch out the maturity of some of our debt (which is required of us beginning as early as 2024.)
The risk of financial collapse is not whimsical. Cineworld/Regal, the second largest movie theatre chain in the world, fell into bankruptcy and their equity holders were essentially wiped out. Bed, Bath and Beyond which was viewed as the third most watched meme stock, also fell into bankruptcy and their equity holders also were essentially wiped out.
Fortunately, at AMC, we have been much smarter, much more agile and much more skillful. We have risen to every Covid challenge heretofore, and I have every confidence in our continued ability to successfully navigate through these complicated times,” Adam Aron said in a July letter.
AMC Entertainment continues to be a strong target by Wall Street, but why?
Movie theatres are no longer dead, and AMC Entertainment is no longer on the brink of going bankrupt.
Giants Amazon and Apple are now investing billions of dollars in the movie theatre industry, which is going to bring more movie titles to cinemas across the country including industry leader AMC Entertainment.
In this article, we’re going to go over some of the latest developments in AMC, it’s history since redditors took over, and an AMC short squeeze update for the year of 2023.
AMC keeps on keeping on, and although AMC has been on discount recently, retail investors continue to buy and hold it.
Retail investors remain excited about the data that has been collected for years now.
Will we see an AMC short squeeze while we continue to ride today’s bear market?
And if so, how soon?
Welcome to Franknez.com – the blog providing you with content on stocks, crypto, and market news. Today we’re discussing AMC Entertainment stock and its short squeeze update and history.
Lets get started!
How soon will we see an AMC short squeeze?
Retail investors all want to know.
Is it this week?
Will it be next week?
Or, are we looking at a longer game here?
Here’s what we know.
Key Highlights
AMC closed at $3.68 on August 15th. The stock continues to be heavily shorted. AMC Entertainment is set up for a short squeeze despite its split.
Shareholders continue to buy and hold the stock.
AMC’s short interest data shows us the stock has the perfect setup for a short squeeze.
Below is a series of documented facts and positive news that all influence AMC’s potential towards a short squeeze.
“Since reopening our first theatres with AMC Safe & Clean in August, AMC has welcomed back nearly 10 million moviegoers nationwide without a single reported case of COVID-19 transmission among moviegoers at our theatres. We look forward to welcoming back our New York City guests to the big seats, big sounds and big screens that are only possible at a movie theatre.”
Adam aron, President and CEO of AMC Entertainment
For those who thought AMC was a dead company, think again.
The company is now generating big revenue since it’s reopening and has beat every quarter since 2021.
Today, AMC shareholders have saved the movie theatre company again after two major proposals were finally passed following an exhausting lawsuit.
A reverse stock split and conversion of APE shares to common stock will now go into effect later this August.
AMC’s 1-for-10 reverse stock split will go into effect on Thursday, August 24.
The conversion of APE shares into AMC common stock will occur the following day, Friday August 25.
The litigation settlement will then take place on Monday, August 28.
CEO Adam Aron says these dilutive proposals will help AMC Entertainment raise plenty of cash to survive another catastrophic event.
Similarly, Anchorage Capital also closed its doors after betting against AMC stock.
Here’s why this matters:
Hedge funds who try to go against the retail wave will get burned
This is a huge win for retail investors over ‘smart money’ Wall Street
Unless shorts close their positions, hedge funds may suffer big consequences again
Today’s borrow fee rates are higher than they were in 2021 when AMC surged to $72 per share
An AMC short squeeze might be closer than we think
There are a few things retail investors did in 2021 to trigger massive price action:
They held their positions during the ups and downs
Shareholders purchased the dips
Investors shared information relating to a short squeeze (such as this article, 2021) to raise awareness
Kept tabs on charts to know when to buy (during drawdowns)
The incredible thing is 93% of market participants said they will still hold AMC stock in 2023 for a short squeeze.
Will Shorts Cover in 2023?
AMC Entertainment answered questions on short sellers covering prior to its newly approved conversion proposal.
Shares of the company fell more than -30% after hours on Friday as APE shares rose +30%.
On Monday, AMC stock is down more than -33% while APE is up nearly +18%.
Will short sellers be required to cover their positions before the Reverse Stock Split and Conversion?
According to AMC’s new 8-K filing, AMC expects that the deliveries under stock borrowing arrangements will be adjusted in the regular way to account for the Reverse Stock Split or, in the case of contracts on APEs, the Conversion.
However, AMC states that it “does not determine and is unable to provide interpretive advice on the impact of these events on the contractual terms governing stock borrowing arrangements.”
How will short sellers be affected by the Litigation Settlement Payment?
“AMC does not determine and is unable to provide interpretive advice on the impact of the Litigation Settlement Payment on the contractual terms governing stock borrowing arrangements.”
AMC’s reverse stock split will go into effect on Thursday, August 24.
The conversion of APE shares into AMC common stock will occur the following day, Friday August 25.
The litigation settlement will then take place on Monday, August 28.
Will there be large failure-to-deliver (“FTDs”) like when the APE was distributed?
AMC Entertainment states that while they cannot predict the trading impact of these corporate events, given the significant transactions that will occur over successive trading days, it is possible there will be large FTDs like when the APE was distributed.
Looking Back at the Events Prior to AMC’s Short Squeeze in 2021
Adam Aron gives positive news on AMC Entertainment – Archive 2021
AMC Entertainment has raised more than 2.2 billion dollars in cash
90% of AMC theaters in the United States are now open with New York and Los Angeles finally reopening
Vaccinations and policies are making movie theaters safe
New movie titles are guaranteed to increase sales revenues
CEO and President Adam Aron expresses an optimistic future for AMC Entertainment
AMC Entertainment has implemented a Safe & Clean program under the advisement from Harvard University’s prestigious School of Public health as well as well as the No. 1 U.S. cleaning brand, The Clorox Company. This means movie goers can now return at ease knowing a proper sanitation program has been put in place.
Hedge fund affiliate partners such as MarketWatch, The Fool, and other finance website tried to redirect the public from investing in AMC stock while the company was finally reporting positive news.
That’s primarily because hedge funds were losing so much money daily as share prices continued to rise.
A short squeeze became the ultimate threat to hedge funds with massive bets towards the downside.
Today, AMC Entertainment is in a whole other world compared to where it started in 2021.
Is AMC Shorted?
AMC’s current short interest is around 27.76%, which is much higher than it was when AMC shares skyrocketed to $72.
As of 8/15, we’re seeing 200,000 shares have been made available to borrow, via Stonk-O-Tracker.
While shorts might have the capability to short AMC stock, this is only temporary.
The retail community has made big enough ruckus to where regulators are finally investigating naked shorting, or at least acknowledging the problem.
What does this mean for the AMC shareholder?
Short sellers have used this rinse and repeat process for years now.
The important thing in 2023 is that AMC is able to continue raising cash to eliminate the short thesis.
Not only has bankruptcy been off the table since 2021 (via. Los Angeles Times), but AMC movie theater attendees have increased drastically in 2023.
This in turn has increased revenue and helped AMC Entertainment pay off more debt in the past two years.
AMC Entertainment Quarter Earnings History (2021)
Below are AMC’s quarter earnings for 2021, the year the ape movement began.
AMC announced their Q1 earnings for 2021 on Thursday, May 6th.
Things have been looking particularly bullish and optimistic since that point.
The only thing getting in the way has been market makers who have big advantages over the average retail investor.
If you missed the conference call years back, you can view it here for your viewing pleasure.
It’s really hard to tell when an AMC short squeeze may occur.
Experts, analysts, and shareholders can’t identify an exact date and time because of how random the probability may be, as seen in 2021.
However, the possibility of an AMC short squeeze is certainly possible given that it is still a very heavily shorted stock.
We also now have more data then ever before that indicate a massive short squeeze is almost certain to happen.
Especially now that the SEC has announced some crackdown on shorting.
With Melvin Capital and other hedge funds out of the picture, it’s only a matter of time before others close their positions.
That is if retail investors can build enough buying pressure in 2023 like they did in 2021 to drive share prices up.
In the end, it truly is all up to retail investors!
Will investors be able to create another AMC short squeeze in 2023?
That might be a little harder now with all of the company’s dilutive proposals going into effect soon, but it doesn’t mean it’s still not possible.
Trey’s Trades AMC prediction
With that being said, Trey’s Trades predicted a short squeeze in 2021. Trey was a leader in the AMC community back in the day, though he’s recently taken time off from stock content on YouTube.
Data points towards AMC stock reaching $1000+ per share according to his research.
See what Trey had to say.
AMC short squeeze – AMC Stock Forecast – AMC Stocktwits | Trey’s Trades on AMC Short Squeeze.
The real question is, how can retail investors make this AMC short squeeze happen?
We know that short-sellers eventually have to close their positions. This means that they will eventually have to buy AMC stock at the current share price.
If retail investors continue to drive the share price up by buying the dip and holding their positions, short-sellers will have no other option than to buy from the retail investor at a higher share price.
2. Retail investors will also need to buy the climbs in order to show a demand for the stock. This doesn’t have to be huge buys, rather incremental to validate the current share price.
This play essentially creates a supply and demand scenario between retail investors and short-sellers.
However, demand must exceed supply by a monstrosity amount, as we saw in June of 2021.
The results? A short squeeze.
Just make sure to take your profits this time.
The last thing you want is to see your gains turn into losses.
Hedge funds are doing everything they can to prevent a short squeeze
How are they doing this?
By promoting false information through MSM (we’re certain you’ve seen it)
Through strategies such as short-ladder attacks in the market
Dark pool/off exchange trading
HFT and Spoofing
And, by restricting certain brokerage accounts from allowing its retail investors to purchase or buy shorted stocks as seen with Robinhood (Robing hood)
This is what retail investors can do to fight corruption:
Share content that presents facts, like this article and others to raise awareness (blog posts, analysis videos, etc.)
Continue to educate yourself and make investment decisions based on your personal analysis
What is interesting however is that Goldman Sachs has now given AMC Entertainment a price target of $175 per share in 2023.
MarketBeat reports that on July 24, 2023, Goldman Sachs gave AMC Entertainment a ‘Boost Target’ action and ‘Buy’ rating with a whopping price target of $175.
And CoinCodex is predicting AMC Entertainment stock to soar more than +9,000% by the year 2030.
“Based on the average yearly growth of the AMC Entertainment Holdings stock in the last 10 years, the AMC Entertainment Holdings stock forecast for the beginning of next year is $ 8.19.
Using the same basis, here is the AMC Entertainment Holdings stock prediction for each year up until 2030.”
The long-term AMC Entertainment Holdings stock price predictions are as follows:
By year 2024, AMC Entertainment is predicted to soar +90.66% from today’s current share price to $8.19.
In 2028, AMC stock is predicted to trade around $108.21 per share, a gain of +2,419% from today.
And by 2030, CoinCodex predicts AMC will trade near $400 per share, up more than +9,000% from today’s trading price.
In 2023, investors will need to identify the primary reasons to invest in AMC Entertainment stock today.
Redditors have touched base on this topic and are determined anything below $100 is a buy, for a short squeeze that is.
However, with so much dilution happening in 2023, you might want to consider writing and coming up with your own best-case and worst-case scenario plan.
The approved proposals is a massive win for the movie theatre company whether you strongly agree with them or strongly do not.
Identifying why you’re still invested in this company or why you would like to is something that will vary from individual to individual.
“The steps we will be taking now are shareholder approved and mean the following to AMC:
AMC will be more resilient: Were it not for our ability to have raised equity over the past three years, AMC simply would not have survived the pandemic-induced decline in our business. Looking forward, the flexibility to raise equity capital at the appropriate times is an absolutely vital tool for any large company, and AMC is no exception.
We eliminate capital raising inefficiencies of APE units trading at a significant discount to AMC shares: Converting APE units to AMC shares results in a single price for all AMC equity. This single price eliminates the unnecessarily high dilution caused by the lower market price of APE units. For the past full year, for example, to raise cash, AMC could only sell APE units, and they only could be sold at a great discount to AMC shares. With single equity capital structure, I believe AMC will be able to raise equity capital more efficiently and on better terms in the future.
“Some of you fear dilution is a mistake no matter what. You are wrong.
To the contrary, sometimes raising money is an absolute imperative.
Over the past twelve months, for example, AMC raised $418 million of cash through the sale of APE units.
As of the most recent June 30 quarter end, AMC had $435 million of cash on hand.
Can you imagine how dire our circumstances would have been if we hadn’t had the foresight to raise that cash?
Companies that run out of money face financial ruin.
Just ask Cineworld/Regal shareholders, or ask Bed, Bath and Beyond shareholders.
But at AMC at the moment, we have a positive market cap, and we are so much stronger because we raised money along the way,” said Adam Aron on Monday.
Where was AMC trading at before the pandemic?
AMC was actually trading between $30-$35 back in the booming party economy of 16′!
AMC stock started to decline as their debt increased and hedge funds began to heavily short it.
However, AMC Entertainment Holdings, Inc. is in a completely different world today than it was during the pandemic with box office number reaching pre pandemic levels.
AMC Announced a new record high earnings report last Tuesday.
Analysts have been expecting big earnings results from the movie theatre chain due to the rise of this year’s second quarter box office numbers.
“While we still have much work ahead of us on this front, AMC’s glide path to eventual recovery continued with significant pace in the second quarter of 2023 as our results set new records and represent AMC’s strongest second quarter in four full years.
Following an impressive start to the year in the first quarter of 2023, the second quarter yet again showed great progress.
AMC saw more than a 12% growth in attendance, a 15% growth in total revenue and a 71% increase in Adjusted EBITDA compared to the second quarter of 2022.
Indeed, Adjusted EBITDA was $182.5 million, the highest such quarterly figure since the fourth quarter of 2019,” said AMC CEO Adam Aron.
Barbenheimer Produces Big Results in 2023
Towards the end of July, AMC Entertainment broke a 4-year weekend high record as “Barbenheimer” produced results bigger than expected.
The results demonstrate AMC’s path to recovery is also strong in Q3 of 2023.
“Barbie” ended up with $162 million in its first weekend of release, above Sunday’s already record-breaking estimate of $155 million. The Warner Bros. film, starring Margot Robbie declined just 9% from Saturday to bring in $43.7 million on Sunday.
Those ticket sales rank as the biggest opening weekend of the year, besting “The Super Mario Bros. Movie” ($146 million).
“Barbie” also marks the biggest debut ever for a film directed by a woman, overtaking Anna Boden and Ryan Fleck’s 2019 blockbuster “Captain Marvel” ($153 million), says Variety.
“Oppenheimer,” also beat expectations with $82.4 million, slightly higher than Sunday’s huge $80.5 million projection.
At the international box office, Oppenheimer added $98 million for a global tally of $180 million.
“The box office powered to its fourth-biggest weekend in history with over $300 million industrywide, said Variety.
What If a Short Squeeze Doesn’t Happen?
If an AMC short squeeze doesn’t occur, AMC stock price should still go up during the longer term process allowing shareholders to make at least some sort of profit.
That is, as long as the company continues to improve going into 2024 and the rest of the decade.
With AMC theaters now open since 2021, it’s inevitable that the company will begin to see bigger sales revenue every time a new title is released.
Keep in mind that AMC’s share price during the booming party economy of 16′ was roughly around $30 per share.
If a short squeeze doesn’t happen, fundamentals will continue to bring the stock up as more investors are buying the stock.
It’s also important to keep in mind that majority of the float is also held by retail investors, so the company has a huge support.
AMC hasn’t squeezed yet primarily to two main reasons.
The stock requires volume to drive the stock price action up
Shorts need to close their positions
Volume will surge as more and more retail investors (as well as institutions) get in on AMC stock.
Regarding shorts closing, retail investors need to squeeze them out of their positions by holding their positions and helping increase AMC’s short borrow fee.
You can keep tabs on AMC’s short borrow fee as it changes every day via. Ortex, or Fintel.
As of 8/15 AMC’s short borrow fee rate is a whopping 921.1%.
Interactive Brokers Chief Strategist Steve Sosnick says there’s big demand to short AMC Entertainment (NYSE:AMC) stock.
He says the biggest reason aside from the company’s fundamentals is its new merge with its equity (NYSE:APE).
“It’s very hard to keep the momentum in these things because economic reality does take hold.
Bed Bath & Beyond, at one point was the best performing stock on the board until reality set in and they began defaulting, averted bankruptcy, but using a deal that is so dilutive that it’s unavoidable.”
Sosnick says AMC is in a very special situation because of the proposal to merge APE with AMC common shares.
“Right now we’re seeing such a demand to short AMC partly because of its difficulties but partly because of the special situation.
This really is what they were looking for in some ways as the mother of all short squeezes.
The borrow rate, it costs you 700% to borrow the shares overnight — if you can find them,” said the Interactive Brokers Chief Strategist on Yahoo Finance.
Is AMC Entertainment stock about to squeeze this year?
“Redditors, thank you so much for helping create the best pipeline we’ve ever had”, said Ken Griffin on Business Insider.
Ken Griffin, on how the GameStop frenzy helped raise Citadel’s profile with potential hires.
Business Insider says the SEC found no truth to any of the conspiracy theories but how can the SEC really go against one of the most powerful hedge funds in the world?
Transcripts showed Citadel and Robinhood did in fact have “blunt negotiations” the night prior to the halts.
A Miami district court judge admitted the Citadel and Robinhood transcripts were suspicious.
However, the federal court has dismissed the case due to a ‘lack of evidence’.
Let us know in the comments section below what an AMC short squeeze would mean for you!
If you’re an AMC shareholder let us know in the comment section below.
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Market News Daily – Robinhood is Now Facing a New Trading Investigation.
Robinhood (NASDAQ:HOOD) is now facing a new trading investigation after the company won its case over the manipulative ‘meme stock’ halts.
The 11th U.S. Circuit Court of Appeals in Atlanta ruled 3-0 in its favor regarding the trading restriction of 13 meme stocks back in 2021.
These stocks included AMC Entertainment (NYSE:AMC), GameStop (NYSE:GME), and Bed Bath & Beyond (OTCMKTS:BBBY), among others.
In a proposed class action, shareholders of the 13 stocks alleged that they suffered damages because they were restricted from trading.
Now Robinhood Markets says it’s being investigated for its trading execution, the latest in a string of regulatory and legal proceedings faced by the online brokerage.
“The New York Attorney General is conducting an investigation into brokerage execution quality. We are cooperating with this investigation,” Robinhood said in a recent filing.
Robinhood previously settled a New York state probe into its cybersecurity and anti-money-laundering practices and paid a $30 million fine. The company has also:
Paid $65 million to settle a Securities and Exchange Commission charge that it didn’t sufficiently disclose its business deals with high-speed trading firms
Paid $70 million to settle multiple allegations from the Financial Industry Regulatory Authority, including investigations into options trading and technology outages.
Agreed to pay $10 million to resolve a multistate investigation into allegations that it harmed retail investors, including by failing to supervise technology that resulted in outages and locked millions out of trading in March 2020.
On social media, retail investors argue that Robinhood’s victory over the ‘meme stock’ halts has been a major injustice to investors worldwide.
BREAKING: Robinhood Wins Case Against $AMC and $GME Stock Halts
“The online brokerage has faced heightened regulatory scrutiny during the past several years. In March 2020, several service outages prevented its customers from trading. Then, in early 2021, the so-called meme-stock frenzy spurred the brokerage to restrict trading,” says Bloomberg.
Robinhood said in the Thursday filing that it’s paid about $175 million in the past few years to resolve actions brought by the Securities and Exchange Commission, the Financial Industry Regulatory Authority and several state regulators.
Other Recent Robinhood News
Market News Daily – Robinhood is Now Facing a New Trading Investigation.
Robinhood active users have now declined by a whopping 3,200,000 this year according to the company’s latest report.
As a result, transaction-based revenue declined 5% in the second quarter.
Monthly active users also decreased to 10.8 million, one million fewer compared to the previous quarter and 3.2 million fewer than the year prior per Reuters.
Earnings per share in the second quarter were $0.03, beating analysts’ average estimate of a loss of $0.01, according to Refinitiv data.
“We’ve been talking about for the last several quarters how we want to be lean and scrappy from a cost perspective, and we’ve been keeping our eye on that very closely,” Jason Warnick, Robinhood’s chief financial officer, told reporters.
Robinhood (NASDAQ:HOOD) stock fell more than -6% on Thursday based the decline in users report.
“The company reported higher second-quarter revenue on Wednesday as interest rates continued to increase the online brokerage’s interest income, achieving profitability for the first time as a public company even as it saw fewer users.
Net interest revenue soared 243% to $442 million in the second quarter compared to a year earlier, as the brokerage’s margin investing business benefited from the U.S. central bank’s monetary policy tightening campaign to combat decades-high inflation.”
Mizuho Americas Senior Financial Technology Analyst Dan Dolev says Robinhood could be the next Charles Schwab.
“I’m actually seeing results being very, very strong and, to me, that’s more important than a data point on users,” Dolev says of Robinhood’s second quarter results.
Market News Daily – NYSE Comments on Naked Short Selling in New Response.
The New York Stock Exchange (NYSE) is commenting on naked short selling in a new response to the concerned public.
On Thursday, the official NYSE Twitter page shared SEC key points relating to short sales as well as an explanation on the Threshold Securities List and ‘naked short selling’.
The announcement coincidentally follows the statement AMC CEO Adam Aron made on Wednesday relating to AMC’s exceedingly high number of FTDs.
“Many of you are incensed by the high number of “Fail to Deliver” AMC shares, and that AMC again has been on the Threshold List for multiple weeks. We repeatedly have gone to the NYSE and FINRA, and did so again in July, to put and keep this entire situation on their radar,” said the CEO.
The NYSE is now making a public announcement for concerned investors.
“In response to public inquiries, a particular stock’s inclusion on the threshold securities list — which involves the clearing of transactions — is based on specific criteria dictated by the SEC’s Regulation SHO.
Securities cannot be added to or removed from the list in any other way — it is not at the Exchange’s discretion.
The SEC has a public document explaining Reg SHO, which includes a detailed discussion of the threshold securities list. It also provides contact information at the SEC for related questions,” the NYSE stated on Friday.
AMC shareholders argue that the SEC has violated its 13-day threshold securities list rule, which states that once a ticker has remained on the NYSE Threshold Securities List for 13 consecutive days, the broker-dealer must immediately close out all fail-to-deliver positions by purchasing shares in the open market.
Here’s what the NYSE and SEC say about naked short selling.
Market News Daily – NYSE Comments on Naked Short Selling in New Response.
The SEC’s investor Reg Sho states that although the vast majority of short sales are legal, abusive short sale practices are illegal.
In a “naked” short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard settlement period.
As a result, the seller fails to deliver securities to the buyer when delivery is due (known as a “failure to deliver” or “fail”).
Failures to deliver may result from either a short or a long sale.
There may be legitimate reasons for a failure to deliver.
Human or mechanical errors or processing delays can result from transferring securities in physical certificate rather than book-entry form, thus causing a failure to deliver on a long sale within the standard settlement period.
A fail may also result from “naked” short selling.
Regulators state that “naked” short selling is not necessarily a violation of the federal securities laws or the Commission’s rules but rather in certain circumstances, “naked” short selling contributes to market liquidity.
“For example, broker-dealers that make a market in a security generally stand ready to buy and sell the security on a regular and continuous basis at a publicly quoted price, even when there are no other buyers or sellers.
Thus, market makers must sell a security to a buyer even when there are temporary shortages of that security available in the market.
This may occur, for example, if there is a sudden surge in buying interest in that security, or if few investors are selling the security at that time.
Because it may take a market maker considerable time to purchase or arrange to borrow the security, a market maker engaged in bona fide market making, particularly in a fast-moving market, may need to sell the security short without having arranged to borrow shares.
This is especially true for market makers in thinly traded, illiquid stocks as there may be few shares available to purchase or borrow at a given time.”
That’s right, the illegal practice of selling shares that have not been determined to exist, otherwise known as ‘naked short selling‘, is legal for Ken Griffin’s Citadel as well as other market makers.
Yahoo’s Senior Markets and Data reporter Jared Blikre says most of the time it’s illegal.
“If a hedge fund releases a short report on a stock, they can short it, but they have to pay a borrowing fee.
They have to borrow it from somebody so they don’t engage in naked short selling, which increases the amount of shares and the float of the company.
Now market makers like those at the New York Stock Exchange– Citadel is one. They can engage in naked short selling, and it’s perfectly legal. It’s part of their market-making duties to provide liquidity for a stock,” reports Blikre.
“Sometimes there are fails to deliver, and a fail to deliver is when you don’t have the ability to prove that you borrowed the stock legally before you actually shorted it,” he continued.
“The wholesalers are providing infinite liquidity, so if we get an order for a thousand shares in stock that no one has ever heard of and there’s two hundred shares in Nasdaq and New York, we fill at a thousand shares at that inside price. That’s meaningful liquidity,” said Virtu Financial CEO Doug Cifu last year.
But it’s not meaningful liquidity, these shares simply don’t exist.
This is how a demand for short sales that have not been determined to exist have the power to tank the markets or how small to mid-cap size businesses become targets of manipulative short selling.
If illegal naked short selling can become legal for market makers such as Citadel and Virtu, isn’t this a conflict for biased trades taken on their end?
Mullen Automotive (NASDAQ:MULN) has approved the company’s new reverse split proposal, which was introduced mid-June.
MULN stock surged more than +39% after Thursday’s shareholder meeting, sending shares above $0.17.
Proposal 3, one of the many dilutive proposals Mullen Automotive was proposing, aims to effect a reverse stock split between a 1-for-2 and 1-for-100 max ratio, per the company’s Board of Directors.
However, share prices have since fallen below Nasdaq’s $1 bid requirement putting the company stock at risk; the company only lasted 10-consecutive days above $1.
Earlier, this article had reflected the rejection of a MULN reverse stock split based on a livestream and commentary of the shareholder meeting.
Reports now suggest that the MULN reverse split has indeed been approved.
On March 8, Nasdaq said Mullen Automotive has until September 5 to meet its $1 bid requirement.
Failure to do so will result in the suspension and delisting of the stock.
Mullen Automotive just launched its new EV app on the Apple App store, Mullen Commercial Pulse Driver.
The app aims at connecting with Mullen commercial EV owners by providing them with instant vehicle information such as battery power/miles left, nearby charging stations, roadside assistance, and the ability to lock and unlock their vehicle.
Company’s will also have access to real-time vehicle location and intelligent routing support, making it an ideal application for business owners arming their company with a Mullen Automotive fleet.
“Mullen Automotive is committed to helping fleets improve cost savings, safety, training, productivity and emissions impact.
Commercial Pulse provides managers and drivers a connected fleet of vehicles with maintenance alerts, real-time vehicle location, driver safety, batter state of charge, metrics and more.
Drivers can utilize Commercial Pulse for routing assistance, real-time vehicle location, charging station locator, roadside assistance and more.”
The company has not made an official announcement yet but the app is now available for download.
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