“If you can afford to hold the stock, you hold. I don’t own it, but that’s what I would do.
Why? because when RH and the other online brokers open it back up to buyers, then we will see what WSB is really made of. That is when you get to make it all work.
I have no doubt that there are funds and big players that have shorted this stock again thinking they are smarter than everyone on WSB.
I know you are going to hate to hear this, but the lower it goes, the more powerful WSB can be stepping up to buy the stock again. The only question is what broker do you use. Do you stay with RH, who is going to have the same liquidity problems over and over again, or do you as a group find a broker with a far, far, far better balance sheet that won’t cut you off and then go ham on Wall Street.”
Now, although Yahoo Finance listed both AMC and GameStop tied to Mark Cuban’s stock portfolio, he said in the AMA that he does not own them.
An out of touch Gary Gensler has made it rather clear that keeping his job is more important than actually enforcing the law.
Here’s what Mark Cuban had to say about the SEC:
“The SEC is a mess. I wouldn’t trust them to do the right thing ever. It’s an agency built by and for lawyers to be lawyers and win cases rather than do the right thing
If the SEC gave a shit about ANYONE other than Wall Street you would be able to go there right now and read bright line guidelines about insider trading, shorting, what is a pump and dump, what are the rules for cutting off the purchase of stocks like happened with GME et al
But they won’t. They would rather litigate to regulate, which means they love to sue people in order to create new legal precedents.
All you need to know about the SEC and how badly they want to fuck the little guy is that they have the option of using JUDGES THAT WORK FOR THE SEC when they sue you rather than you have the option to have jury of your peers in front of a judge that is independent. Thats how bad the SEC is. If you want fair markets that doesn’t benefit Wall Street call your local politician and show them this.”
Shareholders are preparing for an AMC short squeeze as the stock continues to trend upwards and break new levels of resistance.
The movie theatre stock is up +18.40% on the month and up more than +37% in the past week.
Volume has steadily increased and even surpassed the average trading volume of 30 million.
AMC shareholders are speculating big moves may be underway as the rising price triggers short sellers to close out their positions.
AMC’s current short interest is still high at 19.76% per Fintel.
This means there is plenty of shorting in the stock for retail to trigger another massive price move like they did in January but more specifically in June of 2021 when the stock soared to $72 per share.
The company has performed well considering it almost faced bankruptcy early last year.
AMC Entertainment has beat quarterly earnings since 2021, striking confidence for an AMC short squeeze in 2022.
And the cost to borrow short shares has also skyrocketed in recent times.
Borrowers are now paying a whopping 66.4% to short the stock!
This is big news.
Let’s discuss it more below.
AMC Short Interest Today
According to Fintel, AMC’s short interest today is sitting at a high 19.76%.
AMC shot up to $72 per share last year when the stock was heavily shorted around 20% short interest.
AMC’s short interest came down to approximately 14% when it had reached its all-time high of $72.
The stock’s price may have come down a long way, but shorting has increased since and so has the short interest.
But AMC is seeing a slight bounce as it rejects the major level of support around $6 per share, currently trading between $7.50 and $8.
Heavy buying pressure is all the movie theatre stock needs to begin following previous trends back up to $9, $14, and $20+ levels.
If retail investors are able to successfully trigger this event, a short squeeze is inevitable.
What makes AMC more interesting now than ever is how high short sellers are paying to borrow the stock compared to earlier this year.
Stonk-O-Tracker is reporting a whopping 66.40% short borrow fee rate.
This is the annual fee it is now costing hedge funds to short the recovering movie theatre chain.
Liquidation across the markets could explain the obligation to keep up with such a high fee.
But that’s not all, AMC’s short borrow fee rate was as high as 77.80% on Wednesday.
The question is, how long will hedge funds be able to keep up with these losses as retail investors continue to buy and hold AMC stock?
FUD Grows but the Community Still Stands
There are many doom prophets infiltrating the retail community urging investors to sell their AMC shares.
Claiming that AMC is dead, and it will never squeeze.
Now more than ever, short sellers opposing heavy retail volume are trying to scare shareholders out of their money.
But the AMC community is still standing strong.
Is an AMC short squeeze happening soon?
The probability of retail investors squeezing shorts again is not a far-fetched idea.
We could begin to see bigger price action very soon.
Two other anticipated films coming to AMC theatres in Q4 include Black Panter: Wakanda Forever and Avatar 2.
AMC’s Market Cap is Still Below Its Debt Load
AMC Entertainment’s current market cap is sitting at $2.88bn, the company has north of $5bn in debt.
The movie theatre chain company has done an incredible job at paying down its debt, although company shareholders and the public are what’s keeping AMC Entertainment afloat.
As long as there are moviegoers and investors feeding the company with liquidity, AMC Entertainment is far from gone like many short sellers would hope.
The public’s eye on the largest movie theatre chain company in the world has not faltered; for them, going to the movies is merely a means of reality going back to normal after the pandemic lockdowns.
And as we saw in Q3 earnings, AMC’s attendees have increased 33% from Q3 of last year, seating more than 53 million guests in Q3 alone.
Shareholders also play a massive role in the success of the century old movie theatre company.
The difference is shareholders are battling short and distort campaigns in a conflict of interest with mainstream media and Wall Street institutions who hope to profit from the possibility of bankruptcy.
And although AMC is no longer on the brink of going bankrupt, Wall Street seems to have a personal vendetta against retail investors who disrupted the flow of their short scheme.
Holding AMC Stock?
What are your current thoughts on AMC stock and in the direction the company is going?
Leave your thoughts in the comment section down below.
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Debt is the only thing holding AMC Entertainment from being a fundamental buy in the eyes of most in the industry.
AMC Entertainment partnerships
AMC partnered with Chance the Rapper last year for his concert movie release.
CEO Adam Aron announced that they would be working on partnering up with industry leaders for licensing agreements that would allow AMC to provide more of these experiences to their audiences around the world.
Another successful showing was the UFC fight they held in theatres.
The CEO also expressed his optimism surrounding showing highly anticipated sports events in theatres, granted licensing of course.
Retail investors have been specifically waiting for an AMC-GameStop partnership.
A topic Adam Aron teased could be in the works at some point.
AMC theatres released “GameStop: Rise of the Players” on January 28th, earlier this year.
One thing you cannot deny is the community strength and company relationship to its shareholders.
It’s never been seen before.
Do you own AMC stock?
Leave a comment below.
So, will AMC stock go up again?
Based on trader sentiment, community sentiment, and continuous innovation from the company, AMC stock will surge again.
This bear market won’t last forever.
And although the entire market is rather shaky at the moment, there will be a correction.
Hedge funds might have leverage to short the stock, but the people aren’t leaving.
AMC Entertainment will have to focus on growth and revenue if they are to get out of debt in the future.
Community, I’m going to be updating this list of momentum stock and their short interest and utilization daily (AMC short interest).
Be sure to bookmark this page for daily AMC short interest updates. This information is being taken straight from Ortex. I understand not everyone has insight to this information so I will be making it all public for you.
Other metrics being updated daily will include the cost to borrow and the shares on loan.
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!
Short interest updates are currently on hold
Keep an eye out on your emails for further updates.
Thank you for your patience.
*Reported SI has not been updated since 9/7/2022.
– Frank Nez
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#1. BBIG Short Interest
Short Interest: 17.85% | Utilization: 96.70 | Cost To Borrow: 18.42 | Shares On Loan: 50.27 Million | Days To Cover: 2.31
#2. SNDL Short Interest
Short Interest: 14.61% | Utilization: 94.16 | Cost To Borrow: 8.12 | Shares On Loan: 48.31 Million | Days To Cover: 6.61