READ: Cineworld shares almost certainly the wrong price, says broker In early afternoon trading, the shares were 12.5% at 64.5p following a torrid week for the company that saw its price drop 26.6% between Monday’s open and Thursday’s close. The author holds no licenses.Cineworld Group PLC ( LON:CINE) shares surged on Friday as the struggling cinema chain saw investors jump into the stock in a bid to squeeze short-sellers.
#Amc stock short squeeze professional#
Always do additional research and consult a professional before purchasing a security. The author has no securities or affiliations related to this organization. Information for this briefing was found via Bloomberg, Edgar, Refinitiv, and the companies mentioned. But if it does, you have my word, I will die my hair blonde, buy a bunch of firey bowling shirts and dress like Guy Fieri for a month, because I was the Guy who Fieri’d going long AMC. I can’t see this thing going to $500 on a squeeze. I’ll bet there is great bounce to play here, and we see the Apes come roaring back. But here is the thing, there is a massive retail following here, and GameStop didn’t go straight up and straight down.
You can borrow shares cheap, the fundamentals are weak, the company needs to raise money, and the charts moved downwards. Now it looks like the AMC short is out of steam. I just joined the amc thing and heard someone say "there were 40 million trades today, at least half of them sales," and in that moment i achieved enlightenment- Matt Levine July 14, 2021 In other words, if a squeeze was likely, you’d see these borrow rates much, much higher. Mark Spiegel reported on Twitter that you can borrow on Interactive Brokers as low as 1.14% and Jim Chanos cited freely borrowable negative rebates. This is despite short data publishers like S3 and ORTEC showing increases in short interest over that period.īorrow Fees are quite low. Official NYSE data shows shorts down 27 million shares in the two weeks prior to July 12th. There has been lots of disagreement over how possible it even is to squeeze the shorts. I don’t even know who Iceberg Research is, but they effectively create a rally cry for the Apes. Then on July 2nd, Iceberg Research announces they are short AMC, saying the fundamentals are obvious, the stock is trading sideways, and the pump has gone shaky. But, it shows this movement is now so large that the main stream media can’t ignore. Such influencers even make an appearance on CNBC, where they don’t exactly make a compelling argument to own the shares. We see YouTube influencers like Trey’s Trades and Matt Kohrs who have developed massive followings continue to rally the troops. Ironically, the move weakened fundamentals while giving away one of their highest margin items while still limited in their ability to take advantage of the share price.
#Amc stock short squeeze free#
Then bam, the company announces free popcorn for all retail investors on June 2nd, making the stock fly from $30 to $60. So the squeeze really started gaining steam in early May, when the share price rose from $10 to $30 in early June. They later tried authorizing 25M shares, and well, cancelled that again despite desperate needing cash. The company tries to authorize itself to issue 500M more shares, but then shuts down the idea in April saying they decided to listen to their shareholders. The company struggles to make it through the year, with a stock chart that goes from around $6 to just $2 and the company is forced to raise nearly $400 million in equity capital while selling 131 million shares in at the market offerings and to a group called Mudrick Capital. COVID-19 hits the US hard, and AMC is forced to close all theatres.
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