Genius Group (NYSEAMERICAN:GNS) CEO Roger Hamilton reached out to AMC Entertainment (NYSE:AMC) CEO Adam Aron on Twitter to join forces and fight naked shorting together.
Just last week, Global Tech Industries Group (OTCMKTS:GTII) took legal action against naked shorts.
The Nevada corporation announced on Monday that its board of directors has authorized management to move forward with appropriate legal action in connection with what it believes to be illegal trading activity in the Company’s shares.
Roger Hamilton’s GNS was the first to publicly take action against manipulative short selling in the market.
The company’s plan of action includes creating a Board-led ‘Illegal Trading Task Force’ to actively pursue all possible actions together with the regulators in their discovery and prosecution of persons engaging in market manipulation involving the ordinary shares of Genius Group.
This Task Force will be led by Timothy Murphy, a Genius Group Director and former Deputy Director of the F.B.I., Richard Berman, also a Genius Group Director and chair of the Company’s Audit Committee, and Roger Hamilton, the CEO of Genius Group.
The Company has been in communication with government regulatory authorities and is sharing information with these authorities to assist them.
Now the CEO is urging AMC CEO Adam Aron to join the fight as retail investors show their strong support towards fighting for fairer markets.
Adam Aron Responds to Roger Hamilton
“I messaged Adam Aron and got both 👍&👎”, said Roger Hamilton on Twitter.
A poll shows that 75% of market participants say a CEO reaching out to another CEO in regard to naked shorting should ‘stand up’, oppose to stand down.
Many retail investors are in favor of companies and CEOs raising awareness of manipulation short selling in the market.
Adam Aron has said in the past that he’s seen no evidence of so-called synthetic shares.
The CEO has remained skeptical despite millions of shareholders raising awareness of Wall Street’s deceptive practices over the years.
Adam Aron is focused primarily on the fundamentals of his company rather than taking on the role of an activist in the community.
But Adam Aron is also tied down to an extent, limited by what he’s allowed to say and isn’t.
AMC’s CEO is binded by covenants that could result in serious legal damage to the company if breached.
The unfortunate reality is that the banks that are providing AMC Entertainment with its lifeline are also shorting the company.
“It may boil down to this. Many of you are frustrated, strongly urging us to address market forces that you are convinced are unfair. We continuously think about what actions would be wise and CREDIBLE. Certainly good ideas: Build up our cash reserves and smartly lead AMC forward,” said Adam Aron on Twitter.
Leave your thoughts below
There’s no question Wall Street has used predatorial practices against retail investors for decades now.
Chairman Gensler has said it’s not a leveled playfield for retail.
Naked shorting has been an incredibly big topic in the world of ‘meme stocks’ as the demand for shares has been suppressed by financial institutions through various loopholes.
What are your thoughts on GNS CEO Roger Hamilton reaching out to Adam Aron?
Do you think AMC’s CEO is in a tight bind or do you think he’s not paying enough attention to what’s happening in the world of retail investors?
Leave your thoughts below.
Market News Published Daily
For more stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.
Franknez.com is the media blog that keeps retail investors informed.
You can also follow me on Twitter, Instagram, Facebook, or LinkedIn for daily posts.
You can now read exclusive FrankNez articles for only $1/mo.
- Gain access to EXCLUSIVE FrankNez articles you won’t find here.
- Become part of a private and safe Discord community, just for retail investors.
- Get drawn at the end of the year for holiday giveaways.
Recommended For You ✨
About The Author
AA obviously is having his pockets filled by our enemies. Can you imagine what Citadel and H/F have done to AMC and to us and he sits back and lets them getaway with it. They have manipulated the demise of AMC and us retails that saved AMC for the last 3 years and AA hasn’t seen any evidence of that. OMG he should go you know where . My life savings and family IRAs are down hundreds of thousands and he sits back and wants to play in the pockets of our enemies . Vote NO.
Yes, most definitely. We are so much in the red & voting yes will keep us in the red & stop any hope left with AMC.
The AA CEO seems that instead of supporting those who helped him not to go bankrupt, he is doing everything possible so that they do not have a benefit, and that instead of having satisfaction, they have it as a loss, instead of giving the fight as that CEO is doing, the reverse investment is invented, which will leave many who have sacrificed themselves for the AMC company and have saved it at a point that only what it feels like is disappointment and betrayal on the part of CEO AA
What has Adam Aron done for us, the retail investors? We got AMC out from under a bankruptcy. We took a stand but, our CEO can’t! WHY?
Maybe he’s not the person we thought he was.
Still holding because I believe in AMC,
Not! Adam Aron…..
Adam Aron should have taken legal action 12 months ago. Why he did not is certainly a mystery. However, hats off to any CEO that does take legal action and wants to protect its investors. The CEO for Bed Bath and Beyond should join the fight as well.
Yes, I believe he should if he truly wants the respect of his retail investors! If nothing pans out, he at least will have earned our respect!
Well said
Should GNS and AMC CEOs join forces in the fight against naked shorting in the stock market? Leave your thoughts below.
yes he should,the sooner the better