Tag: Business News (Page 1 of 2)

Cinemark Competes with AMC in New NFT Deal

Cinemark Competes with AMC in new Thor Love and Thunder NFT Deal with Disney
Business News: Cinemark Competes with AMC in new Thor: Love and Thunder NFT Deal with Disney

Cinemark is looking to compete with AMC Entertainment theatres in a new NFT deal it just made with Disney.

From Tuesday, June 28th, through Thursday, July 7th, rewards members will get a chance to win one of 1,000 NFTs for Marvel Studios’ upcoming Thor: Love and Thunder.

AMC Entertainment was the first company to release NFTs (non-fungible tokens) to their movie theatre guests upon the purchase of a ticket.

The largest movie theatre chain in the world has released a Spider Man No Way Home NFT, Jurassic World NFT, The Batman NFT, Lightyear NFT, and many more.

Shareholders also received a rare series one “I Own AMC” NFT.

Read how much those are worth here.

Here’s the latest market news.

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Cinemark teams up with Disney

Cinemark teams up with Disney in Thor: Love and Thunder NFT
Business News: Cinemark teams up with Disney in Thor: Love and Thunder NFT

“Cinemark is thrilled to collaborate with Disney on the release of these exclusive Marvel Studios NFTs for Thor: Love and Thunder,” said Wanda Gierhart Fearing, Cinemark Chief Marketing and Content Officer. – Box Office Pro.

The movie theatre industry has been steadily recovering ever since the pandemic struck the world in 2020.

Cinemark Holdings, Inc.’s total revenues for Q1 2022 increased by 303% to $460.5 million compared to $114.4 million for Q1 of 2021.

AMC Entertainment on the other hand earned $785.7 million in revenue during their first quarter of 2022, compared to $148.3 million in Q1 of 2021.

Cinemark’s marketing campaign to distribute Thor: Love and Thunder NFTs with Disney is a great move for the company.

However, AMC Entertainment continues to be the leader in the movie theatre industry, offering a more premium experience to its guests.

What are your thoughts on Cinemark competing with AMC Entertainment in the NFT space?

Leave a comment down below.

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Related: Will AMC Stock Go Up? [2022 Deep Dive]

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Adam Aron Says There Are No Synthetic AMC Shares

Synthetic AMC Shares
Market News: AMC CEO says there is no reliable info on synthetic AMC shares

Adam Aron just took it to Twitter announcing they (AMC) have seen no reliable information on synthetic AMC shares.

The CEO said “inbound tweets ask over and over for a share count”.

He then said, “some of you believe the count is much higher. As I’ve said before, we’ve seen no reliable info on so-called synthetic or fake shares.”

Retail investors have been adamant about getting a proper share count due to the ongoing and excessive naked short selling of AMC Entertainment stock.

A share count could expose the overleveraged amount of ‘synthetic AMC shares’ and force institutions to take accountability by closing them – triggering a short squeeze.

There are many opinions going around in the community after the CEO’s announcement.

Let’s discuss it.

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Shorting in AMC never left

AMC Short Interest Ortex

Before we get into AMC’s synthetic shares, it’s important to note that AMC has accumulated more short sellers than ever before.

AMC has a current short interest of 22.90%, and more than 195 million shares on loan.

When AMC reached an all-time high of $72 per share, its short interest had dropped from 23% to 20%, then to 16%.

AMC’s short interest has been rising ever since that drop, giving the stock plenty of room to squeeze shorts from their positions.

So, shorts never really left, despite mainstream media calling the short squeeze play dead.

The conflict of interest between the media and hedge funds is something retail investors should all be aware about.

But most of you already know this.

Is Adam Aron really oblivious to the amount of shorting that has taken place in AMC Entertainment stock?

Or is he not allowed to speak on the matter due to the position he’s in as the CEO of the company?

Overstock CEO Patrick Byrne did, despite the ridicule and investigations he received.

The only difference is Adam Aron has an army behind him willing to support a fair market for all participants.

Similar to Gary Gensler, it is in my opinion that Adam Aron may simply be maintaining the status quo.

But I’m curious to learn what you think.

Proof of synthetic AMC shares

Adam Aron says they have not seen any reliable information on synthetic AMC shares.

But most of the proof are in the FTDs that accumulate every month when there aren’t enough shares to meet contractual obligation.

There have been more than 16.5 million AMC FTDs this year through May according to research.

Naked short sales and selling an asset without borrowing it first are two of the leading causes for failures to deliver.

These naked shares are the shares the CEO isn’t counting – or in other terms, what shareholders want him to investigate.

He stated on Twitter AMC knows only of 516.8 million shares.

And while shareholders know this legal count as well, it’s the ‘illegal’ synthetic AMC shares the community want brought to light.

But it seems the CEO isn’t interested in combating a corrupt market.

It seems he much rather remain focused on the business aspect, which too is understandable.

However, not meeting shareholder demands could have serious repercussions in the future.

Is Adam Aron risking AMC’s future by not tackling the problems shareholders are facing in the market?

I’d love to know what you think.

Leave your thoughts in the comment section of the blog down below.

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Confirmed: AMC Received Free Shares of National CineMedia

Market news and updates: CEO confirms AMC received 6 million shares from National CineMedia for free.
Market news and updates: CEO confirms AMC received 6 million shares from National CineMedia for free.

Adam Aron announced on Twitter AMC had received free shares of National CineMedia.

Barrons, a news site owned by News Corp. falsely claimed AMC purchased the stock of a failing company.

Shares rose for both AMC and NCMI stock on Wednesday.

The CEO stated the shares came to AMC because they’ve grown their circuit by continuously adding theatres last year.

AMC owns approximately 6 million shares of National CineMedia now.

National CineMedia is an American cinema advertising company.

NCM displays ads to U.S. consumers in movie theaters, online and through mobile technology.

The advertising industry is a huge industry.

Perhaps AMC begins to create a new revenue stream through the use of ads in their cinemas.

Other recent AMC news and updates

The movie theatre chain had incredible Q1 earnings results this year and also beat every quarter in 2021.

The company also acquired a 22% stake in Hycroft Mining (HYMC) in March as well as several movie theatres not only last year but this year too.

AMC Perfectly Popcorn brand is on schedule to sell across grocery stores, malls, and other retail stores by the end of 2022.

Adam Aron teased shareholders could see a stock dividend by the end of 2023.

AMC stock is currently on a downtrend as the SPY pulls the entire market with it despite positive news and fundamental improvements.

Shareholders continue to buy and hold the stock as they look to squeeze shorts from their positions this year.

The battle in the market continues.

Join the newsletter for more updates on AMC or read the latest market news and updates below.

Related: Ken Griffin Attacks: "Pension Plans Destroyed by Retail Investors"

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Will This Market Meltdown Trigger AMC to Squeeze?

will this market trigger AMC to squeeze?
Can today’s market conditions trigger AMC to squeeze?

AMC stock along with the entire mass market is melting.

Despite powerful Q1 results, the largest movie theatre chain in the world continues on a downtrend.

The Q1 earnings call was able to raise AMC’s share price after hours but majority of the market is on fire this Tuesday.

Will this market meltdown trigger AMC to squeeze?

Let’s discuss it below.

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The SPY continues to pull the market down

Spy Stock

The SPY (S&P 500), which tracks the top 500 companies in the United States continues to pull the market.

Today the SPY is down more than 16% (year-to-date).

On average, the S&P 500 is up 8%-10%.

This is an incredible time to also take advantage of the S&P 500 as it has always set higher levels in the long-term.

However, the SPY is a great indicator of where the markets are going, and we can see AMC is no exception to this market downtrend.

And as the markets tumble, it’s important to concentrate on the opportunities in these conditions.

If you’re part of my private community on the Patreon you’ve seen I’ve been earning 10%-20% gains trading options every week.

This is one way investors may hedge against these market conditions.

The market doesn’t go down forever, eventually it has to come back up so taking advantage of lower stock prices today could bear profits as soon as the market goes into a reversal.

Some of the largest CEOs in the U.S don’t believe this bear market will linger which means at some point short sellers will begin to either take profits, cut losses, or close their positions breaking even.

This is when the markets could see a big reversal.

Related: Are Institutions Preparing to Close Short Positions in AMC?

Analysts still believe AMC is overvalued

what will trigger AMC to squeeze?
What will Trigger AMC to squeeze?

Analysts are crediting AMC for being able to massively improve their fundamentals BUT, there is always a but.

AMC’s current share price is still believed to be ‘irrational’ by these ‘experts’.

What’s irrational is lowering prices when the demand for something skyrockets.

You do not lower the price of lemonade on a hot summer day when there’s a huge line wanting to buy it.

But these ‘experts’ say that’s how it works.

AMC’s massive demand for the stock has not reflected in the share price for months now.

And even when the high volume began to show, regulators halted it back in March.

The people running the markets don’t like how the game is playing out and they’re essentially cheating.

So, although they might be orchestrating a ‘correction’, is it possible this ends out playing in retail’s favor?

Shills give AMC a $5.76 price target

Wall Street analysts are giving AMC a price target of $5.76.

But why does their ‘expertise’ even matter?

What makes their price target significant or valuable?

They acknowledge AMC is innovating like no other company with the use of NFTs and cryptocurrency, so why go backwards instead of forward?

Like Adam Aron said, these analysts only look through the rear-view mirror oppose to the front windshield – ahead.

And it makes absolutely no sense.

These old ways of thinking are what’s keeping the economy from striving.

Are institutions preparing to close massive short positions?

Are market conditions about to trigger AMC to squeeze?

Given the current market circumstances, we can see the market is struggling to find a bottom, or at least trying to get comfortable in one.

This could give way for short sellers to plan an exit strategy at low share prices to profit from.

The current market conditions provide short sellers who have been holding long short positions on AMC an opportunity to close before the markets begin to move up again.

AMC currently has a high short interest of 19.77%.

This short interest shows there are many short positions still open today that have yet to be closed.

The market meltdown we are seeing at the moment is setting up the perfect conditions for short sellers to close their positions, initiating a short squeeze in heavily shorted stock such as AMC.

Now, is this guaranteed?

Very few things in the market are guaranteed.

When stocks go up, they must come down too – and when stocks go down, they’re bound to go up.

At some point, short sellers will want to cash in their profits before they’re erased by an inevitable market reversal.

I’d love to hear your thoughts on the topic.

Leave a comment down below.

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Related: Are Institutions Preparing to Close Short Positions in AMC?

AMC Dominates with Powerful Q1 Results: Highlights

AMC Q1 Earnings
Highlights: AMC Q1 Earnings 2022

AMC just had their Q1 earnings call for 2022.

The stock jumped to $13.25 after hours when the largest movie theatre chain in the world announced powerful earnings.

In this article I’m going to break down key moments of conference as well as the most important things you should know.

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Best 1st quarter in two years

AMC Q1 Highlights
AMC Q1 Earnings Call 2022

AMC Entertainment announced it had the best 1st quarter in two years when it exceeded market expectations.

The movie theatre giant saw an impressive $630 million improvement in revenue in Q1 and $233 million in adjusted EBITDA from over a year ago.

CEO and President Adam Aron was excited to announce Doctor Strange in the Multiverse of Madness was a massive success this past weekend.

The title leads Q2 to an incredible start as it became the biggest opening of 2022 and the second largest opening post pandemic to Spider-Man No Way Home.

Doctor Strange in the Multiverse of Madness made $187.4 million in domestic opening and $450 million globally.

Adam Aron shared that their historic market share of 22% grew to 26% in Q2 and believes this is just the beginning for what’s to come this summer and the rest of 2022.

Related: AMC Theatres: The Most Anticipated Movies Coming in 2022

AMC seated 39 million guests in Q1 alone

AMC Q1 Earnings Call 2022
AMC Q1 Earnings Call – AMC Q1 Highlights

CFO Sean Goodman announced that AMC seated 39 million guests in Q1 alone this year; it had seated 7 million guests in Q1 of 2021.

A whopping 32 million difference.

AMC Entertainment earned $785.7 million in revenue this first quarter, more than five times the revenue in Q1 of 2021 ($148.3m).

AMC finances are looking rather strong as guests continue to pay more for tickets and food and beverages.

The company also ended Q1 with $1.4 billion in liquidity.

This cash is allowing AMC Entertainment to go on the offense and reinvest money back into the company.

Earlier in Q1 we saw AMC acquire seven new Bow Tie Cinema movie theatres.

The movie theatre chain announced a quarter billion investment in new state-of-the-art laser projectors too.

The incredible thing is that AMC has been able to do this while significantly lowering their debt.

AMC repaid $45 million of deferred rent reducing their balance to approximately $272 million.

And they plan to reduce the deferred rent by another $125 million by the end of the year.

Quick updates

These are a few quick updates worth mentioning.

  • Financial reports suggest AMC is on a road to financial recovery from the impact of Covid-19.
  • AMC’s Perfectly Popcorn business is on schedule to enter the retail game later this year.
  • The company is currently doing product testing, research, and looking at new concepts.
  • AMC says the launch of an AMC credit card is going to be a lucrative business opportunity for the company.
  • 8 different NFT programs have been launched or are in the works of being launched so far, further fueling movie ticket sales.

Adam Aron acknowledges shareholders’ concerns with the market

AMC Q1 Highlights

During AMC’s Q1 earnings call, Adam Aron acknowledged a variety of retail’s concerns.

Some of these concerns included market injustices, short selling, and even dark pool trading.

In the earnings call conference, the CEO stated the following:

“I greatly appreciate that you care so deeply. Also, running a company with such broad interests as AMC, is an artform, not a science.

There is real wisdom in knowing what to do, and what not to do. In Knowing when to do it, and knowing when not to do it.

Having said that, you should not interpret silence as ‘inaction’. We are constantly exploring the smartest courses of action and I promise you that we will pounce, but only when the timing is right.

My every incentive is to think and to act like a shareholder to maximize the long-term value of AMC because like you, that’s what I am. I am an AMC shareholder above all else.”

I’m curious to learn what you think about these words.

Leave your thoughts in the comment section below.

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In case you missed it: Are Institutions Preparing to Close Short Positions in AMC?

Adam Aron Fights Fake AMC Token: Calls it a “Sham”

Adam Aron on AMC token
Adam Aron on AMC Token – CEO fights back

Scammers on social media have been pumping a fake AMC token by the name of xAMC.

Fake indeed because the pumpers claim to be part of the ‘ape community’.

However, the community can spot a grifter from miles away – big mistake.

The project’s name has been changed from “The AMC Token” to “The Apes Movement Community Token”.

These scammers are targeting the ‘ape’ community and AMC President and CEO Adam Aron has called them out stating, “we are fighting them hard.”

I was threatened to get sued by their ringleader after a voicemail was left on my business phone number, but more on that later.

I won’t release their name or voicemail, for now.

franknez.com

Welcome to Franknez.com – if you haven’t joined the newsletter, be sure to do that below. I’m publishing market news and updates daily.

Let’s dive right into it!

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Adam Aron says they are fighting AMC token scammers

For over a month now the AMC token scammers continuously commented on various Twitter posts where AMC shareholders would engage in.

The scammers began to hype this AMC token in efforts to get AMC shareholders to buy the cryptocurrency.

So, who are these scammers?

I published an article weeks ago exposing them here.

A day later these scammers began to harass me on social media and the ringleader exposed himself entirely when he left a voicemail on my business number.

I was threatened to get sued if I did not take down my article exposing the grifters.

That was a big mistake because I now have their personal contact information and Adam Aron could be taking legal matters into his own hands.

Adam Aron said on Twitter:

“The AMC Token” (after our vigorous protest: “The Apes Movement Community Token”) is a total sham.”

“AMC Entertainment has nothing to do with this blatant violation of our registered trademark, and attempted theft of our name/reputation. We are fighting them hard. Don’t be fooled!

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Elon Musk Buying Twitter is A Great Thing: Here’s Why

Elon Musk Buying Twitter
Twitter accepts Elon Musk’s proposal – Market News

Elon Musk buying Twitter might have sparked some controversy.

Ladies and gentlemen, it’s official.

Twitter’s board accepted the $44 billion on Monday.

#ByeTwitter is trending as people oppose the ‘takeover’ by Musk.

But is Elon Musk buying Twitter the worst thing that could have really happened on the platform?

Here’s why the move could actually be a great thing.

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Elon Musk seals Twitter deal

Elon Musk filed a Schedule 13D with the SEC earlier in April adjusting his proposal with Twitter.

He proposed acquiring 100% of Twitter in a $44 billion cash deal on April 14th to take the social media company private.

Elon advised that if the company did not accept his offer he would pull his 9.2 stake out of the company since both their values did not align for the public’s best interest, free speech as Musk has said.

The Tesla and SpaceX CEO became Twitter’s biggest shareholder when it acquired a 9.2 stake in the company.

He purchased more than 73.4 million shares according to the Schedule 13D filing.

Elon’s stake was worth roughly $2.89 billion when the market closed that Friday.

A week after the proposal was made, Elon exposed the Twitter board for not holding any shares of the social media company themselves.

Now the deal is officially sealed according to REUTERS.

What does Elon Musk want to do with Twitter?

Elon Musk says he wants to eliminate spam bots on Twitter as well as bring back freedom of speech on the social media platform.

This is an incredibly important part of the acquisition that has many avid users excited about the takeover.

Elon Musk has been a long-time advocate for freedom of speech and has also exposed injustices in the market.

He understands how the market is manipulated through what he describes as ‘short and distort‘ campaigns.

This is where media is used to create a negative headline on a stock and then short sellers attack it, profiting from the falling share price of a profitable and successful business.

Tesla has been a victim to this type of abuse in the market and Elon has created a disruption in the SEC by exposing this fraud.

But the SEC hasn’t done anything about the market manipulation, but rather investigated Elon Musk instead.

Similarly, what occurred with ‘meme stocks’ last year has retail investors fighting for market transparency as millions of investors have been cheated from their money.

The retail community finally feels like they have a giant on their side.

How will free speech be monitored on Twitter?

Elon Musk on Free Speech - Twitter Acquisition
Elon Musk on Free Speech – Twitter acquisition

Elon expresses during a TED talk that the Twitter acquisition is not for monetary gain but rather an effort to provide humanity with a platform where freedom of speech is not compromised.

In that TED talk, he mentions free speech will abide by laws so it is not lawless.

People against the acquisition think the social media are looking at the negatives rather than the positives.

A social medial platform that can no longer limit Twitter posts from being seen due to scandalous exposure allows the truth to be seen.

Elon Musk said on TED he’s big on the truth.

And those who support Elon Musk buying Twitter is too.

Elon Musk Twitter TED Talk – Elon Musk on Free Speech

What are your thoughts on Elon Musk buying Twitter?

The purpose of Elon Musk buying Twitter is to provide people with a social media platform that cannot be influenced by outside forces, which could potentially harm the narrative of the truth.

While people might argue that a man with so much money and power should not have more influence and more power, I disagree, depending on who wields that power.

Because there are currently people running the country who abuse this power.

And unlike Elon Musk, they are not for the truth.

I’d love to hear your thoughts in the comment section below.

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AMC Invests $250m in State of The Art Laser Projectors

AMC laser projectors
Business news: AMC Laser Projectors

AMC CEO and President Adam Aron just announced on Friday the movie theatre company spent a quarter billion dollars in state of the art laser projectors.

The world’s largest movie theatre chain also acquired 7 new movie theatres earlier in April.

The markets are currently bleeding and AMC is no exception, but I have a feeling all this bullish news is going to sling-shot AMC during a bull market.

Let’s talk about it.

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Adam Aron announces new state of the art lasers

AMC Laser Projector
Laser at AMC

Today Adam Aron announced “Laser at AMC”.

A quarter of a billion dollars were used to upgrade the move theatre experience for avid movie goers, according to the CEO.

AMC Entertainment is switching old projectors for state of the art laser projections.

The laser projections are going to provide guests with much brighter and sharper pictures on screen.

This is also the greenest environmental initiative in AMC’s 102 years, according to Adam.

The investment is going to elevate the movie experience for movie-goers and attract new guests to AMC movie theatres.

I’m excited to see AMC innovate and prove adversaries wrong as the company continues to grow and expand.

AMC leads the industry with increased acquisitions

AMC Entertainment acquired 7 Bow Tie Cinemas locations earlier in April.

Five of which are in Connecticut, one in upstate New York, and another one in Annapolis, Maryland.

The new movie theatres in Connecticut will double AMC’s presence in the state.

AMC also acquired several Cinemark Cinemas locations.

The theatre chain reopened Cinemark’s former lease as AMC Evanston 12 in Chicago earlier this year.

Last year the movie theatre chain took over the famous Gove and Americana theatres in Los Angeles.

Both of which were listed in the top 30 most successful movie theatres in the world.

Not to mention, the 22% stake acquisition of silver and gold mining company Hycroft (HYMC).

Read: AMC Theatres: The Most Anticipated Movies Coming in 2022

What innovations would you like to see within AMC movie theatres?

AMC Laser Projectors – Laser at AMC

AMC theaters is innovating in so many ways right now.

How can the world’s largest movie theatre chain create a larger experience for its guests?

VR? 4D enhancement with fragrances and other interactions?

Leave a comment below.

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Former SEC Chairman Says “Musk Has Done Serious Damage to the Market”

Former SEC Chairman Harvey Pitt
Market News: Former SEC Chairman Harvey Pitt takes Jab at Elon Musk

(Bloomberg) Former SEC Chairman Harvey Pitt, says Elon Musk has done serious damage to the market.

When asked what he would do if he were chairman again, his response will alarm you.

It seems the SEC has deep roots of going after those who expose their shortcomings.

Elon Musk has openly talked about how the SEC fails to protect retail investors and now he’s a target.

Let’s get more into what the former SEC Chairman had to say.

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The SEC is uncomprehending of the real issues at hand

When former SEC Chairman Harvey Pitt was asked what he would do today, he responds by saying he would investigate the motive behind Elon Musk wanting to buy Twitter.

Regulators to Elon: Why do you want Twitter?

Elon Musk: For free speech.

Regulators: Right, we got that, but why?

There are a number of things the SEC could be focusing on but continue to neglect retail’s concerns.

Harvey Pitt said Elon Musk is using influencer marketing to move the masses which could be dangerous.

Necessary commentary here: I rather someone with Elon’s influence to move the masses if it means exposing the shortcomings of our incompetent regulators.

The people have already been speaking out about the SEC for years, now they just need a scapegoat do ‘de-escalate’ the sentiment.

But the truth is we need more influencers to speak out on market injustices and corruption in our government.

Elon Musk has not created any damage to the market, our incompetent leaders have.

The SEC has no public support

Here’s a red flag, the SEC has absolutely no public support.

Numerous polls on Twitter have been conducted by retail investors where more than 90% of people say they do not trust the SEC.

Investors believe the SEC has been compromised and no longer serve the people, but rather serve the financial institutions in a pay-to-play system where accountability for systemic risk is pardoned with a fine.

Unfortunately, parties on the same side will attack Elon Musk’s reputation to shut down public perception.

Former SEC Chairman Harvey Pitt fails to realize we no longer live in a world where the people sit in silence.

Social media has given communities platforms to raise awareness of injustices in the world.

The reason why regulators and affiliates have a problem with Elon Musk buying Twitter is because they don’t want the people to have that power.

We can say the same for crypto.

Crypto hedge funds are emerging as laws are being written for cryptocurrency.

Crypto is a true representation of supply and demand, unlike the stock market which is tailored specifically for financial institutions.

The SEC caters to hedge funds and market makers, not the people.

Should the president or the people elect the SEC?

SEC

The president elects the SEC Chairman and commissioners.

Which means it would be quite difficult to remove these people from power.

Is this right though?

Should it be difficult to remove government officials from power?

That doesn’t sound American to me.

The people should be allowed to vote these people into power.

Jon Stewart for SEC Chairman, anyone?

Our government is getting more powerful and greedier.

We need people such as Elon Musk to raise awareness of the corruption in the markets.

It’s time the people take their power back and start holding regulators accountable.

Read: Is the SEC Complicit to Market Injustices?

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Elon Musk Now Offers to Buy 100% of Twitter in New Cash Deal

Elon Musk wants to buy Twitter
Market News: Elon offers new cash deal to take Twitter private – Elon Musk Twitter News

Elon Musk wants to buy Twitter for 100% of the company and take it private.

The SpaceX and Tesla CEO filed a Schedule 13D with the SEC updating his proposal for the social media company.

But that’s not all.

The Dogefather says he will sell his entire stake if they do not agree to these terms.

I will be breaking all of it down below.

franknez.com

Welcome to Franknez.com – if you haven’t joined the newsletter, be sure to do that below. I’m publishing market news and updates daily.

Let’s dive right into it!

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Elon Musk makes Twitter an offer

Elon Musk Twitter News
Elon Musk Twitter News – Elon Musk Twitter Letter

Elon tweeted this morning that he “made an offer” and shared a link to his filed Schedule 13D.

I’ll be leaving the link to the report down below, but I’d like to break it down for you first.

The name of the reporting person is indeed Elon Musk, so this proposal comes directly from him, not his team.

The SEC report shows the SpaceX CEO currently owns 73,115,038 shares of Twitter stock (TWTR), or a 9.1% stake in the company.

Elon Musk is now proposing to acquire all of Twitter’s outstanding common stock at a $54.20 per share cash deal.

Because it’s only a proposal at the moment, the deal is non-binding for now until conditions and receipts require legal agreements and approvals.

If the proposed transaction is completed, the Common Stock would be terminated and delisted from the New York Stock Exchange as the SpaceX CEO takes the company private.

Elon Musk scripts on the full acquisition of social media company Twitter

Elon Musk Twitter Investment
Elon Musk Twitter Investment News – Elon Musk Twitter Stock – Elon Musk Twitter Letter

Here is Elon’s proposal on the SEC report:

[Bret Taylor

Chairman of the board,

I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.

However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.

As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.

Twitter has extraordinary potential. I will unlock it.]

Best and final

SEC

Elon Musk says his offer to buy Twitter is best and final.

The Tesla CEO states that he will not be playing back-and-forth games.

“If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder.”

Now, the CEO makes it very clear that this is not a threat, but simply not a good investment without the changes he seeks to make in the social media company.

He says those changes will not happen without taking Twitter private.

The Twitter management team will have Musk’s advisors available to them after they’ve received the proposal.

There will be more details in their public filings, according to Elon.

You can view the official SEC report here.

Will Elon Musk buy Twitter?

I’d love to hear your thoughts on the topic.

Elon Musk wants to provide the world with a platform that allows free speech as he believes it is essential in a democratized society.

This makes sense, right?

What are the challenges of providing the world with a free speech platform?

If the proposal is denied, how will this make you feel about Twitter?

Be sure to comment down below.

As for me, I think he should buy the SEC.

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