Market News Daily – AMC CEO Says Data Sources Are Under Review for Accuracy.
AMC CEO Adam Aron says data sources are under review for accuracy after several sources, including MarketWatch, were reporting the company’s equity APE (NYSE:APE) having a 93.79 billion market cap.
That’s more than 20 times its ‘accurate’ 4.60 billion market cap reported by Yahoo Finance.
“Market Watch currently showing 93.79 billion APEs outstanding. Clearly WRONG, wildly so. We are calling them now demanding this get corrected immediately. Also reviewing many other data sources to check for accuracy. So curse-word-here irresponsible that they publish false info,” said the CEO on Twitter.
But it seems the market might just expose itself to Adam like it did to others, such as Roger Hamilton of Genius Group and Patrick Byrne of Overstock.
The CEO said, “many Twitter reports to me indicating 9.3 trillion APEs are outstanding or we have a $409 billion market cap. Clearly both WRONG. Either a data service inexcusably is in error or someone criminally photoshopped bogus numbers. To the extent possible, we’ll aggressively chase this.”
Will these discrepancies lead AMC CEO Adam Aron into the rabbit hole of market manipulation or naked shorting?
Many shareholders are certainly hoping so.
Recent AMC Stock Manipulation News
Earlier in March, Adam Aron announced that the company has contacted both FINRA and the NYSE to look closely at the trading of their stock.
“Many of you, and we, are aware that AMC Entertainment has been on ‘The Threshold List‘ for 3+ weeks, indicating a number of FTDs.
Some of you may be pleased to learn that we have contacted both FINRA and the NYSE asking that they both look closely at the trading of our stock.”
AMC failure-to-delivers (FTDs) have been begun to rise again.
FTDs topped 6.8 million in February (non-cumulative), amounting to more than $36 million in failed to close orders.
The data is still being reported which means there’s a possibility we may see higher FTDs once February’s entire month has been processed.
Adam Aron nor AMC have released a formal document confirming the claims reaching out to the NYSE or FINRA.
FTDs, or Failure-to-deliver occurs when one party in a trading contract (whether it’s shares, futures, or options) fails to deliver on their obligations.
These failures derive due to buyers not having enough money to take delivery and pay for the transaction at settlement.
In the case of sellers, it means not having the goods to meet that transaction.
Failure-to-delivers can occur in options trading or when selling short naked, per Investopedia.
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Market News Today – AMC CEO Says Data Sources Are Under Review for Accuracy.
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Momentum Stocks: AMC Short Interest Information – Plus 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
#1. BBIG Short Interest
Short Interest: 15.64% | Utilization: 100.00 | Cost To Borrow: 11.41 | Shares On Loan: 58.37 Million | Days To Cover: 8.49
BBIG Short Squeeze Score: 82
(Updated Daily)
#2. MMAT Short Interest
Short Interest: 12.67% | Utilization: 100.00. | Cost To Borrow: 17.46 | Shares On Loan: 35.51 Million | Days To Cover: 5.07
Market News Daily – AMC Entertainment gets a $1 billion boost in movie titles from Apple.
AMC Entertainment (NYSE:AMC) will finally get a boost in new movie titles as Apple prepares to spend $1 billion per year in theatrical releases.
CEO Adam Aron has said on a few occasions that AMC Entertainment’s potential is essentially capped by the number of titles being released each year.
AMC Entertainment is the largest movie theatre chain in the world.
It was able to survive the pandemic and remain the industry leader after millions of investors saved the company from bankruptcy when the company stock was purchased en masseto squeeze short sellers.
The company was able to raise billions of dollars and continues to raise hundreds of millions today as it makes way for profitability again.
Apple’s investment is part of the tech company’s efforts to raise its profile in Hollywood and lure subscribers to its streaming service, Apple TV+, Bloomberg reported, citing people familiar with the matter.
Apple has released films directly to its streaming platform or allowed limited runs in a small number of theaters for Academy Award eligibility.
The commitment to longer theatrical releases is a way for the company to appease talent, who want their projects on the big screen, and drum up awareness for its streaming platform, which is estimated to have between 20 million and 40 million users, much smaller than rivals Netflix and Disney +.
But Apple isn’t the only big company contributing to the movie theatre industry.
Amazon to Contribute $1bn Annually to Movie Theatre Industry
In November of 2022, Bloomberg reported that Amazon was also planning to invest $1 billion per year in the movie theatre industry, aiming to release anywhere between 12-15 movie titles per year.
That number of releases puts Amazon on par with major studios such as Paramount Pictures.
Now, Amazon Studios has its first-ever original movie debuting in theatres globally on April 5th, 2023.
AIR tells the story of the game-changing partnership between Nike and a then-rookie named Michael Jordan.
AIR tells the story of the game-changing partnership between Nike and a then-rookie named Michael Jordan. Stepping into theatres April 5. pic.twitter.com/aNKrQ43tQL
This is the largest commitment to the movie theatre industry by an internet company, says Bloomberg.
CNBC commented:
“While a $1 billion annual investment for film development is on the lower end of what major Hollywood studios spend each year, it’s a positive sign for the movie theater business, which has struggled in the wake of the pandemic.”
The Wall Street narrative that the movie theatres are dead no longer seem to hold weight.
And the rumors of Amazon going into the movie theatre industry are no longer rumors.
Apple joining the movie theatre industry seems to only reinforce and secure the future of AMC Entertainment.
Movie Theatres Are Essential for The Entertainment Industry
Market News Daily – AMC Entertainment to get a boost in movie titles from Apple.
Big leaders in the entertainment industry have realized that they require the theatrical experience to grow their businesses.
There was an incident with Netflix where the company missed out on more than $200 million from taking Glass Onion: A Knives Out Mystery starring Daniel Craig out from the movie theatres too early.
The film earned $15 million at the box office but CNBC says the showing could have made $200 million if it had been kept in theatres longer.
Box office analysts say Glass Onion could have earned much higher earnings if Netflix had opted for a traditional wide release of 2,000 to 4,000 theaters.
CNBC stated, “Netflix has backtracked on its previous policies, including by introducing an ad-supported subscription option, leading many to wonder whether the company should rethink its resistance to the traditional Hollywood movie release model as it looks for new ways to grow revenue.“
Amazon and Apple’s move to invest billions of dollars in the movie theatre industry is going to be a game changer for AMC Entertainment, as well as other cinemas in the industry.
But I’m curious to hear your thoughts on what’s happening today with AMC.
Leave a comment down below and share this story.
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Hedge funds may be incentivized to close their short positions in AMC stock as the cost to borrow increases. At some point, it’s not worth paying that high of a fee to continue shorting a company that has fundamentally improved.
AMC is no longer the same endangered company it once was during the pandemic.
The company has improved every quarter since 2021 and has managed to get rid of a lot of debt.
The world’s largest movie theatre continues to innovate and adapt to the changing world.
While online streaming threatened the industry, revenue from box office hits has proved people are still going to the movie theatres, despite the convenience of watching movies at home.
Short sellers are betting against a recovering and innovating film industry generating billions in revenue now.
As AMC continues to prove itself fundamentally and the cost to borrow rises, expect short sellers to begin closing their short positions.
Here is where patient investors will see massive returns.
Market News Daily: SEC scraps vote for hedge fund transparency rule.
(WSJ) The Securities and Exchange Commission scrapped plans to vote Wednesday on a rule that would have increased regulators’ visibility into financial risks at some hedge funds and private equity funds.
After scheduling the vote last week, the five-member commission “decided to take a little more time” on the rule, an SEC spokeswoman said.
She declined to comment on whether the cancellation owed to a lack of majority support from the commission, which is composed of three Democrats and two Republicans.
Several SEC commissioners could not immediately be reached for comment.
The rule, proposed early last year over Republican opposition, would have increased reporting requirements for filers of a confidential document called Form PF.
Among other proposed changes, it would have required large hedge funds to file reports within one business day of incidents such as extraordinary investment losses, defaults by major counterparties or spikes in margin requirements.
The rule sparked pushback from lobbyists for the hedge-fund and private-equity industries in Washington.
The Managed Funds Association, which represents hedge funds, urged the SEC last week to hold off on finalizing the rule until it was ready to adopt a separate Form PF proposal issued last August.
Who is the Managed Funds Association?
Who is the managed funds association? Citadel’s Ken Griffin.
The Managed Funds Association, or MFA, is an association made up of a variety of hedge fund managers, including Citadel, Two Sigma, Point72, and Millennium Management.
That’s right, some of the industry’s biggest short sellers and the SEC just prolonged this transparency rule.
Citadel, Anchorage (defaulted), Millennium Management, and Bank of America are a few of the members who are or have been short on ‘meme stocks’ such as AMC Entertainment.
For years now, retail investors who were part of the events that occurred in 2021 have urged the SEC to enforce proper regulation from sneaky hedge funds and banks with overleveraged short positions.
The SEC has sparked excitement within the retail community when it’s announced proposals that would shed light on darker markets — however, trust has been severed as the regulator has only proved to be complicit to market injustices.
Dark pools, OTC trading, and naked shorting have suppressed retail’s favorite company stocks from rising on true demand.
Shorting has its purpose and is a useful tool to keep the markets balanced and in check.
Manipulative shorting on the other hand is what retail activists are fighting against — the un-American type that sinks businesses and disrupts innovation.
Northwest Biotherapeutics sued Citadel and other market makers for manipulating its stock price in December of 2022.
Ken Griffin’s Citadel chose to profit from the US cancer drug company through the means of short selling, a practice the hedge fund/market maker is notoriously known for.
Rather than allow the company to raise money for its treatments, hedge funds teamed up to profit from manipulated falling share prices.
Market News Daily: SEC Scraps Vote for Hedge Fund Transparency Rule.
‘We The Investors’ is taking Wall Street head on which means retail investors from around the world are now being represented in a way like never before for the first time in history.
More than 1,300 letters have been submitted to the SEC supporting rules proposed in December that represent the biggest changes to equities trading in nearly two decades, according to Reuters.
The collective of retail investors have joined ‘We The Investors’ led by Dave Lauer in efforts to combat Wall Street as a legitimate organization that sprouted from the events of the ‘meme stock’ frenzy in 2021.
Halts in AMC, GameStop, and other stocks during at the time angered many investors which led to the exposure of crime and market injustices on social media.
Retail investors have been pushing for market transparency ever since.
We The Investors has held two online meetings since December with SEC Chair Gary Gensler, who took questions directly from retail investors on the proposals, which include requiring most retail stock orders to be sent to auctions to boost competition.
Other proposed rules call for a new standard for brokers to demonstrate they’ve gotten the best execution for clients on transactions, as well as lower trading increments and access fees on exchanges, and stronger disclosure around retail order executions.
But Wall Street, including Ken Griffin’s Citadel is pushing back.
AMC Short Squeeze – AMC Entertainment 2023 – AMC Stock Price – AMC Stock Squeeze
Will AMC squeeze This Year?
The Fool thinks you should sell your stock, but retail investors aren’t budging.
Mainstream media who serve hedge funds in a conflict of interest have been egging retail investors to not buy the stock all of 2021.
If you listened to The Fool who told you not to buy AMC when its share price was low, then you would have missed out on a trade that went as high as 3000% in gains!
While the runup to $72 per share might have caused AMC’s short interest to drop to 14% from 20%, AMC’s short interest has now gone up to 22%.
Ladies and gentlemen, AMC stock has plenty of room for growth in 2023.
Welcome to Franknez.com – the blog that provides retail investors market news with integrity. Today we’re discussing AMC’s short interest data to determine whether it will squeeze in 2023.
Will AMC stock squeeze in 2023? Game over short sellers | AMC Stock 2023 – AMC Stock Price
AMC has a high enough short interest to squeeze shorts from their positions in 2023.
Sitting at 24% short interest, it’s more than enough to get the price up well into the high hundreds of dollars per share.
Whether regulators will investigate naked shares, FTDs, and other forms of counterfeit shares for hedge funds to cover is another topic.
AMC will need momentum if it’s to see another massive runup in share price.
Furthermore, hedge funds will lead their customers into losses for the second year in a row if retail investors continue to buy and hold the stock in 2023.
AMC Entertainment stock has plenty of room for growth and mainstream media doesn’t want you to know it.
If you’re lucky enough to get involved in the ape community you’ll find yourself fighting for a fair and transparent market, where your voice means everything.
The AMC community has not had a problem holding or buying the stock.
One of the biggest problems the community faces today is regulators not protecting retail investors against the predatorial strategies from hedge funds.
The community has always been a beacon for change.
Apes will need to voice market concerns to elevate awareness.
AMC stock had multiple chances to squeeze in 2021, however, hedge funds always found a loophole that would prevent them from reporting information, or trading stock in the lit exchange.
Market manipulation continues to be a threat to every retail investor in the market.
AMC Entertainment was on the brink of extinction, it was about to go bankrupt.
Hedge funds took this opportunity to overleverage their short positions in the stock, betting it would close forever.
Once retail investors got in and saved the company, the community uncovered a number of market manipulation tactics that allowed hedge funds to prevent the stock’s share price from soaring.
The fight for a fair market continues in 2023.
For the ape community, this is more than just a short squeeze play.
Your support helps maintain all the costs it takes to run a blog at this scale.
Together, we’ve been able to place AMC Entertainment articles on the #1 page results on Google and get featured on the ‘news’ section, combating mainstream media.
The mission of this platform is to spread the truth corporate media isn’t willing to, by giving the people in our community a voice.
Market News Daily: AMC CEO fatigued by manipulation talks.
AMC Entertainment (NYSE:AMC) CEO Adam Aron touches on billions of synthetic shares and market manipulation.
For years now, AMC shareholders have stuck to their convictions on a mother of all short squeezes (MOASS) due to the alarming amount of overleveraged shares out in the market that institutions still have to buy back.
AMC Entertainment stock has been shorted in the past by some of the biggest short sellers on Wall Street, though now they are playing both sides to hedge their bets.
Notorious short seller Citadel has a long history of market manipulation, Chairman Gary Gensler says more than 50% of trading goes through dark pools, and Patrick McConloguge, an ex-Citadel data scientist says the game is rigged and that rules are tailored to benefit hedge funds.
But AMC CEO Adam Aron says that is not the company’s problem, despite thousands of investors urging the company to take an activist role in lifting the suppression that keeps the stock price from rising.
Investors managed to raise AMC shares from $2 to $20, and from $5 to $72 per share — though halts and other forms of suppression limited how high the stock was allowed to go.
Shareholders have felt cheated ever since and have urged AMC’s CEO to take legal action against naked shorts like other CEOs are currently doing.
But AMC’s CEO has recently expressed a strong message towards the manipulation occurring in his company stock.
And quite frankly, the CEO expresses he’s tired of investors talking about it.
Let’s dive right into it.
AMC CEO on Billions of Synthetic Shares
AMC CEO Adam Aron on Synthetic Shares.
In August 2022, just moments before the debut of AMC’s Preferred Equity, APE, Adam Aron released the following statement:
“Candidly, I’ve seen no evidence so-called fake or synthetic shares exist. But many of you disagree. This preferred equity dividend goes ONLY to company issued shares. So, it will have the impact of a “share count” or unique dividend many of you have sought.”
This alarmed many investors at the time with a few die-hard followers calling anyone who mentioned this news as ‘bot’, ‘shill’, or ‘fud’ — completely unnecessary of course but it paints the environment well.
Other Twitter influencers promised shareholders APE was the catalyst to an epic short squeeze but failed to explain the equity’s true purpose.
In other words, only a half-truth was being spread within the community which caused shareholders to hold even deeper losses.
A video surfaced on social media of Adam Aron speaking on market manipulation that has many investors somewhat divided — though it shouldn’t.
And I’ll explain why in a moment.
The CEO says, “guys, don’t believe everything you read on Twitter. Yes, it’s true that we have a lot of short sellers who have sold our shares short, but all that stuff that you read about market manipulation, and fail to delivers, and all this other stuff, there’s billions of synthetic shares out there — that’s not our problem.”
Adam Aron said on Twitter the company had reached out to the NYSE and FINRA to look into the high number of FTDs but failed to provide any sort of letter confirming the claims.
Shareholders are confused to say the least with what the CEO had to say during one of his events.
I guess we been wrong all along about #amc market corruption. Wow Adam A. Are you kidding me !!!!!! pic.twitter.com/Od3F8o1hYc
— 🇺🇸 Mike “The Marine” Entertainment 😉🦅 (@themarinexxx) March 13, 2023
Is the CEO is experiencing fear, uncertainty, and doubt?
In another video, the CEO can be heard telling a shareholder, “You don’t know what you’re talking about. You’re just wrong. You’re just wrong across the board. There are no synthetic shares.”
— Golfer,Car Enthusiast,Dog Lover,AMC Surporter (@iamBazSR3rs) March 14, 2023
Despite not being one of the most peppy AMC updates, it sure is something worth raising awareness about.
What the CEO says and what you have seen are going to reinforce your conviction or lack thereof.
However, there are always two sides to a coin.
In the full video, you can also hear the CEO state that essentially running the company fundamentally is more important than the manipulation happening in the company stock.
All shills posting snip of @CEOAdam speech – here’s rest of it. More business/ cash kills short thesis! Market will take care of naked shorting/ short sellers! pic.twitter.com/63ifmSIi3l
The clips are rubbing many investors the wrong way but shouldn’t be take completely out of context.
Still, investors feel the CEO should not discuss market injustices if he’s not willing to tackle them.
Why is This Important?
Market News Daily: Adam Aron tired of market manipulation talks.
There are millions of investors out there who have witnessed the market manipulation single handedly for years and now they’re being told it’s not important — or rather it doesn’t exist, when real data, reports, and whistleblowers have stated otherwise.
Though the CEOs controversial statements might have investors divided, it shouldn’t.
In the end, a shareholder is a shareholder and everyone has a choice to make based on what’s happening in the market and with the company.
Some shareholders are indifferent, simply waiting to collect profits when shorts start closing their positions.
The short interest was lower when AMC shares ran up to its all-time high of $72 per share in 2021.
Time will tell where AMC’s share price goes from here on out.
What do you make of AMC’s CEO’s thoughts on the manipulation?
Was this the proper way to address shareholders and the community who have been fighting for change in the financial system?
Out of the market injustices that have occurred ever since the ‘meme stock’ frenzy, ‘We The Investors’ has established a legitimate voice for the retail community and has been able to speak to Chairman Gary Gensler on concerns and issues investors are currently facing.
We’ve also been able to raise enough awareness to bring certain issues to light by bigger media outlets, ensuring your voice is heard.
Leave your thoughts below.
Originally published on March 15, 2023.
Market News Published Daily
Market News Today – AMC CEO tired of Manipulation Talks.
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AMC CEO Adam Aron said on Twitter he asked the NYSE and FINRA to look into the stock due to the alarming amount of FTDs in market.
But the CEO never publicly demonstrated a letter confirming the bold claims.
Videos have surfaced of the CEO scrutinizing any talks about market manipulation during an in-theatre event.
Yahoo Finance published a segment on AMC being on the threshold list highlighting the cause being due to naked short selling.
“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.”
The problem is naked short selling isn’t ‘legal’ and it takes advantage of a company’s stock price by driving shares down even when demand from retail buyers is high.
Naked short selling isn’t supposed to be illegal from a regulatory perspective and legal whenever Wall Street decides it to be.
Shares of AMC Entertainment fell -15% on Tuesday.
AMC stock went from being up more than +110% this year to now being up only +18%.
What Should Have Happened Instead?
The 13-Day Threshold Rule states that a broker-dealer with fail-to-deliver positions for 13 consecutive settlement days must immediately close out the ‘FTD’ position by purchasing shares in the open market.
AMC’s share price should have surged in a buy-back or ‘repurchase’ of shares in the lit exchange.
AMC FTDs spiked up to more than $36 million in FTDs last month, through the report is still in the process of updating via T+35.
Market News Today – AMC removed from threshold list.
FTDs, or Failure-to-deliver occurs when one party in a trading contract (whether it’s shares, futures, or options) fails to deliver on their obligations.
These failures derive due to buyers not having enough money to take delivery and pay for the transaction at settlement.
In the case of sellers, it means not having the goods to meet that transaction.
This is a direct result of naked short selling in a company stock, according to Yahoo Finance.
So far, there’s been zero positive impact on the price from AMC being removed from the threshold list.
The only thing shareholders can do now is wait for the approved proposals to go into effect after AMC’s lawsuit has concluded.
Leave your thoughts on what’s happening with AMC today
The company has been through a lot, and so have shareholders.
Shareholders are either more level-headed than they ever were before, or more fearful — and it’s quite easy to see on social media.
How is AMC Entertainment standing in your eyes?
Is this just another bump on the road like we’ve seen in the past with AMC stock?
Or does it seem a little more serious?
Leave your thoughts below and share this article to get your voice heard.
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Market News Today – AMC removed from threshold list.
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Market News Today – AMC Reverse Stock Split on Hold Until After Lawsuit Clears.
Shareholders have approved an AMC reverse stock split as well as the conversion of APE equity to common AMC stock, but CEO Adam Aron says they cannot implement the proposals until the Delaware lawsuit clears.
“Today was a huge step forward for AMC. You voted YES, YES & YES! And it was a landslide vote too — 88% yes for Proposal 1, 87% yes for Proposal 2, and 87% yes for Proposal 3. My sincerest thanks for giving AMC the tools we need to continue fighting the good fight on your behalf.
Saving AMC is my professional mission. And remember that I own millions of AMC shares and APE units too. So, I very much want for AMC to succeed. I am absolutely and passionately convinced that what you approved today is in the best interests of AMC and of all our shareholders.
So what happens now? We can not implement what you approved today until the litigation in Delaware courts is resolved. The next Court hearing on this matter is set for April 27, 2023. We will update stockholders when we have additional information.”
The 1-for-10 reverse stock split will divide shares by 10 and multiple AMC’s share price by 10.
For example, with AMC’s current share price today at $4.60, the stock price will reflect $46 but shareholders holding 100 shares will now hold 10 shares.
Investors holding 1,000 shares of AMC stock will hold 100 shares after the reverse split.
Allegheny County Employees’ Retirement System filed a lawsuit against AMC Entertainment (NYSE:AMC) claiming that the company and several of its directors violated state law to “eviscerate” the voting power of common stockholders, who had not supported issuing new shares.
The Purpose Behind a Reverse Stock Split
Market News Daily – AMC Reverse Stock Split on Hold Until After Lawsuit Clears.
AMC Entertainment, while it’s improved drastically over the past two years, continues to burn cash.
Developments such as AMC Perfectly Popcorn and branded merchandise are just two innovations the company has created to increase revenue.
While the developments are still new, AMC needs big cash quick, which is why a reverse stock split and APE merge was proposed.
An AMC and APE merge will combine the value of both the equity and common stock of the company.
A reverse stock split will buy the company time and stay listed on the NYSE as short sellers continue to drive shares down — this time from a higher share price than current levels.
The approved proposals will dilute the stock by increasing the number of shares from 524,173,073 to 550,000,000.
This gives AMC Entertainment millions of shares to liquidate as soon as they hit the market, allowing the company to raise big cash once again.
However, the reverse stock split now makes it 10 times more challenging for shareholders who got in at the peak of 2021 to break even.
Shareholders will have to repurchase 10 times their shares to be unaffected by this type of dilution.
This repurchase may have the potential to move stocks up, but at a hefty cost.
Market News Daily: Business Insider says there’s a ‘strong sign’ of naked shorting in AMC stock.
Bigger and bigger media outlets are now reporting what we’ve been saying for years now regarding naked shorting in AMC stock.
Business Insider recently published a piece stating that the placement of AMC Entertainment on the threshold list indicates that the stock continues to be heavily shorted on Wall Street and that much of it could be due to the illegal practice of naked short selling.
“Being placed on a threshold list is a strong sign that the stock is being manipulated and could be the target of naked short selling, which is when investors and traders sell a stock short without borrowing or arranging to borrow, the shares to sell short from a broker.”
For years and even in recent months, the retail community has been raising awareness of these predatorial strategies in the market.
$AMC, $APE, $GME, $MULN,$NWBO, $GNS, and many more across the market are experiencing naked short selling to an extent, some more than others.
Business Insider says that while naked short selling is illegal in the U.S., it is a common practice elsewhere in the world, particularly in Asia.
But there’s some false to this statement — on the contrary, Asia is stricter on naked short selling that the United States is.
Violators may face years in jail and fines are equivalent to the value of sales sold naked, neither of which are implemented in the U.S.
Earlier this year, South Korea’s regulators even fined Citadel for high frequency trading.
China also had the courage to freeze Citadel’s accounts back in 2015 when it caught the Ken Griffin’s hedge fund naked short selling.
The Strong Possibility of a Short Squeeze
The DD is done, retail investors have been saying this for year now.
But Business Insider says this situation could set up AMC stock for what is popularly called the “Mother of All Short Squeezes,” or MOASS.
Interactive Brokers Chief Strategist Steve Sosnik stands behind this massive short squeeze theory too, stating the following:
“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.
AMC Entertainment (NYSE:AMC) stock is up nearly 40% this year-to-date.
Market News Daily: Business Insider says there’s a ‘strong sign’ of naked shorting in AMC stock.
Mainstream media may finally be waking up to some of the manipulation we’ve been seeing for years now, but they fail to connect something very important.
Where exactly it’s coming from.
Ken Griffin’s Citadel has been scrutinized for years now but has managed to slide by with very little to no spotlight — that is until retail investors and social media came into the picture.
During the ‘meme stock’ frenzy of 2021, Citadel was caught on the wrong side of the wave when it had short position on AMC and GameStop — the hedge fund lost billions.
However, ex-Citadel Data Scientist Patrick McConlogue says the halts allowed Citadel stop the game and make additional overleveraged bets towards the downside and capitalize on massive drop.
Average investors were cheated out of their money, creating possibly one of the biggest scandals in Wall Street history.
“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”, says Patrick McConlogue.
I’m curious to know your thoughts on what’s happening.
Little by little, bigger media outlets have unveiled what the retail community has been raising awareness about for years now, the naked short selling of AMC stock and many others being a big one.
Do you think there will be justice for how Ken Griffin’s Citadel has taken advantage of the industry and our regulators?
Leave your thoughts below.
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Market News Today – Naked shorting in AMC stock news | AMC short squeeze news today.
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Leave your thoughts below.