TD Ameritrade is reporting AMC Entertainment’s (NYSE:AMC) market cap at $7.7 billion.
In March, Robinhood reported AMC’s market cap between $417 billion and $421 billion.
The CEO said last month that data sources are under review for accuracy after several sources, including MarketWatch, were reporting the company’s equity APE (NYSE:APE) of also having a 93.79 billion market cap.
Now shareholders are reporting TD Ameritrade is reporting AMC’s market cap nearly three times its ‘accurate’ data.
Adam Aron has shown disdain for media sources and data platforms reporting inaccurate information.
“Many 4-letter words rhyme with DUCK. Buck, Cuck, Huck, Luck, Muck, Puck, Suck, Tuck,Yuck. Can you think of any four letter word I forgot to include? To paraphrase the talented and always lively Samuel L. Jackson, “I am aghast and angry http://Benzinga.com, you Mother Duckers,” said the CEO after Benzinga had reported that Amazon had acquired AMC Entertainment.
But now AMC shareholders are curious about the latest market cap reportings, wondering why so many platforms continue to report the company at a much higher value.
Are these reports merely glitches?
Or are they something else?
TD Ameritrade and AMC History
TD Ameritrade is one of the brokerages that also halted AMC Entertainment stock during the ‘meme stock’ frenzy alongside Robinhood.
The broker is also known for lending retail shares to short sellers and for accepting payment for order flow, like Robinhood.
In January, TD Ameritrade reported AMC’s short interest at a whopping 40.25%, so this is not the first time we see the broker report rather startling information on the movie theatre company stock.
TD Ameritrade says that it uses third party information which leads to question who these third parties are.
Coincidentally, TD Ameritrade’s Bartlett Warehouse full of records burned down on February of 2022 after the SEC and DOJ initiated an investigation on hedge funds regarding illegal short selling activities.
The retail community is very well aware of these incidents from the past, now urging AMC CEO Adam Aron to demand TD Ameritrade fix the ‘misinformation’ being reported today.
Still, there are investors who believe that this is real data being leaked after several naked shorts were issued to pound the stock to the ground.
Many AMC shareholders believe that they have purchased the float several times over, explaining these odd reportings.
Whether or not this is the case, CEO Adam Aron has had very little to say about market discrepancies aside from the latest reports.
Adam Aron Reaches out to NYSE and FINRA
In March, AMC CEO 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.”
This is the closest shareholders have been able to influence the CEO to look into the manipulation of the stock by larger institutions.
There has been no update since the announcements on social media, though AMC was removed from the NYSE Threshold Securities List.
Why do you think there’s been a lot of ‘inaccurate’ information on AMC Entertainment?
Leave your thoughts below.
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