Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
BamBam, I believe you're right. I'm watching Level II, the counterfeiting hasn't let up, they are just loosing the battle with the buyers, Hodl.
If this has been posted, my apologizes, for as I said, I'm watching the counterfeiters work and not the board
GameStop, AMC Rally as Day Traders Burn Short-Sellers Again
Bailey Lipschultz
Wed, May 26, 2021, 9:33 AM
(Bloomberg) -- Retail investors are refusing to let go of their commitment to Reddit favorites GameStop Corp. and AMC Entertainment Holdings Inc., propelling shares to their highest levels in months.
GameStop shares rallied as much as 10.3% to $231.04 at 9:32 a.m. in New York while AMC rose 9.7% to $18, adding to recent gains. The jumps came as investors increasingly touted the stocks on social media platforms, using hashtags like #AMC500k on Twitter and pumping their bets in trader chatrooms on Stocktwits and Reddit’s WallStreetBets.
“It looks like the Reddit Raiders are at it again,” says Michael Pachter, analyst at Wedbush Securities. The pair of companies were among the market’s most actively traded stocks early Wednesday after volumes continued to soar. AMC has surged 43% so far this month while GameStop shares have rallied 24%, that compares to the S&P 500 which is flat.
The gains are sure to bring more pain for short-sellers betting against the companies who have already seen $6.8 billion in mark-to-market losses this year, according to S3 Partners. With the retail investor movement regaining steam and both companies having high short interest, there’s potential for a short squeeze, S3 Partners’ managing director of predictive analytics Ihor Dusaniwsky said by email.
“Short sellers may start trimming their positions in the face of continued stock price strength,” he said. Short-sellers have seen mark-to-market losses of about $475 million for the month of May alone, S3 Partners data show.
The pair of stocks have been the best performers in a basket of 37 so-called meme stocks tracked by Bloomberg over the past month. The group’s 5.4% rally on Tuesday pushed it above its 50-day moving average for the first time since March.
Neb, just like back in March, I'm writing as many Puts as I can afford to write, plus adding shares.
I like that dude, Hodl, then buy more and Hodl
This certainly has a stronger feel to the move than March had, doesn't it?
Look at Level II, IMO, they are still printing counterfeit shares.
BB is working on stopping the presses, until he gets that done, the squeeze hasn't started.
What we are seeing is stronger selling then the counterfeits can print. IMO, look at Level II
Neb, when the numbers comes out on how many people went to see Cruella, AMC is going to take off.
People want to go out, the numbers out on Cruella will kill all this streaming nonsense about Disney and others.
I always thought that would trigger the squeeze, still might, too.
Yes he is, CNBC turned into slime, too.
I don't watch CNBC and I had Newbie on Ignore. It's my opinion that this so called WallStreetsBet Ponzi is all about stopping not only HF's just printing counterfeit shares, but stopping the lies spread by the likes of CNBC and MSM in general.
Speaking of MSM, why no news on Covid in India? Hodl, maybe AMC shareholders can make a change! Hodl until they bleed their own blood, not ours!
They are not walking it down, they are Printing it down with counterfeit shares.
BB is working on making the SEC get these shares out of the market, yet currently, they are still printing.
We are going higher, Buy and Hodl, then buy more and hodl more
That line is stolen from a Harvard Grad.
I saw that too, it's hard to make up that kind of chit!
Pure fu@kery.
AMC rose 3.29% to $16.95 after jumping nearly 20% on Tuesday. The stock soared after Citigroup analyst Jason Bazinet nearly doubled his price target on the world’s biggest movie theater chain to $3.70 from $2.
GameStop gained 4.07% in premarket trading to $217.95. The video game retailer soared more than 16% on Tuesday.
TheStreet's Jim Cramer told viewers of his "Mad Money" program on Tuesday evening that he's been paying attention to the moves in AMC and GameStop as the WallStreetBets crew bids the meme stocks higher again.
https://www.thestreet.com/markets/5-things-you-must-know-before-market-opens-wednesday-052621?puc=yahoo&cm_ven=YAHOO
If you're having trouble with your Hodl, look at Level II, Heggie is still printing, they are NOT covering IMO.
They can't even print fast enough in pre market to drop the share price, I understand that the presses with speed up once we open, but in the big picture, Heggie has not started buying. YET.
They aren't going to until they are forced to by the Government. BioBil (BB) is working on that.
We are going a lot higher, Hodl.
A very large amount of this defies logic, like how in hell did the US government allow HF's to print and sell so damn many counterfeit shares, now everyone that has allowed (or done the selling) is in deep chit.
Many heart felt thanks.
Not sure I understand about Friday, but I am a believer.
I think they are in a world of hurt. They come here with their smart ass attitude about buying one share, boosting about how we aren't chit, ha, who's chit now?
I'm keeping my one share and my other thousands, too.
Now they can deal with the fu@kery they caused!
IMO, the printing presses were running at high speed today, it's just that the buying was running at a higher speed.
I have no idea what's going on, but IMO, there wasn't any covering during the day. After hours, perhaps some smarter (I use that word smarter very loosely while talking about anyone short) shorts covered, I do not believe anyone did during the day.
Tomorrow should be interesting!
Dino, did you pick up your extra 2000 shares, we hit new century marks, Lcbm predicted that we're going to see 20, who am I to doubt him.
Thanks to Worthwalk (sp, maybe) for getting Lcbm to chat a little bit, all I'm sure of, Lcbm isn't fond of Heggies, and he can tell time.
The chit hit the fan today damn nearly right at 3:33 PM, as was told!
Now Hodl.
In a pig's ass you did!
Sonny, I love that guy!
Super Beautiful Day in New York, with an equally beautiful close to a great day.
My wife also wants to see Cruella, I used your line and told her to have her boyfriend bring her, it didn't work for me, not sure how you get away with it. Perhaps if I could only play the accordion!
Be well, everyone be well!
That's not true, we have owned AMC for a long time; however, we have been manipulated by Hedge Hogs printing counterfeit shares.
What happened today was greater buying than printing.
Weird chit happening in today's world, I'd give that messenger a big ass kiss if I saw him/her!
I banged the ask at 3:33
Filled Buy 1000 AMC Market 15.4789 15:33:05 05/25/21
I just wish I had Dino kind of money!
Beautiful, but we're marching forward like Patton, we're not holding anything, we are advancing, advancing forward together and strong!
Dino, did you get in that ask?
Bang the ask! Bids, Lord Have Mercy! Drive this baby higher! You have the coin to be pounding the ask!!!
I was saying, I bought last week, as much as I could, so I'm very very thankful to you, plus I had a decent amount before I added.
I sure hope you didn't take my comment as any disrespect, not sure of the ???
They aren't even close to covering, they're printing as fast as they can.
LC, I listened last week, I'm riding fine, I thank you kindly.
Slim
Yesterday, had a nice little run going into your Tuesday sweet spot, GL and Thanks
I was exercising 11 calls, that's why.
Lord Have Mercy!
Is AMC Stock A Buy? Here's What Fundamentals, Stock Chart Action, Mutual Fund Ownership Metrics Say
FacebookTwitterLinkedInShare
Licensing
DAVID SAITO-CHUNG
01:01 PM ET 05/24/2021
Going to the movies is exciting. But can it match the action by AMC Entertainment (AMC)? Starting the year at just 2 a share, AMC stock skyrocketed 10-fold by the final days of January.
On Monday, shares rallied despite news on Friday that its heretofore largest shareholder, China's Wanda Group, has sold most of its remaining shares in AMC.
Peaking at 20.36 on Jan. 27, shares in the movie theater chain soared more than 940% from its coronavirus bear market low of 1.95 back in March of 2020 and from its 2021 low of 1.91. And the stock on Tuesday chalked up an eighth straight gain, following Monday's 7% blast higher in above-average volume.
Earlier this year, WallStreetBets chat-room traders on Reddit joined in unison in buying shares and bullish call options in AMC stock. They did the same in a band of other companies that had been heavily sold short and struggling. If you were watching or trading GameStop (GME), you likely were also keeping close tabs on AMC Entertainment.
When a stock shows a high level of short interest and is getting bid up, you can almost count on a chain reaction of buying to occur. Why? Short sellers, betting on a decline in the stock, often have to do an about-face. They cover their short position by buying back shares.
According to data analyzed by MarketSmith, the amount of short interest — or shares sold short by individual and professional investors — has jumped 10% in recent weeks to 1.2 times AMC stock's daily average volume of 74.4 million shares, or roughly 89 million shares. That's equivalent to almost 20% of the stock's entire float — huge.
In a nutshell, short sellers are still betting big on a future decline.
Yet since late January, AMC stock has followed an extreme zigzag path.
Just two weeks after that 20.36 peak, AMC crashed. Shares fell to as low as 5.26. Then came a huge second wave of buying, sending shares back in the low teens.
Week to week, the midcap stock (with a market value of $6.1 billion, 450 million shares outstanding and a float of 441 million) has lately seen its overall price range narrow. That's good — a new base is forming.
So, is AMC stock a buy now?
This story examines the fundamental, technical and fund ownership factors to determine if the Leawood, Kan., company scores a good probability of making money for stock traders.
Will AMC Stock Rebound?
Without a doubt, investors long in AMC are betting on a turnaround in fortunes.
In 2020, AMC lost $16.15 a share. Over the past five quarters, the company's sales have shrunk 22% to as much as 99% vs. year-ago levels. Such results would normally devastate most companies.
But as movie theaters open across the country and boost seating capacity, Wall Street is banking on a tremendous rebound in the top line.
Analysts polled by FactSet offer a consensus estimate of $378.3 million in second-quarter sales, up 1,900% from a minuscule $18.9 million in the year-ago quarter. Then they see sales rising an additional 562% in Q3 to $791.6 million and 574% in Q4 to $1.1 billion.
Wall Street expects net losses of $3.40 a share for 2021, a far cry from the unadjusted $39.15 it lost last year. And the Street sees net losses shrinking further in 2022, to $1.01 a share.
With big sales expected to arrive, you can expect cash flows to greatly improve.
On May 13, AMC announced it completed an at-the-market equity program launched on April 29. The company raised $428 million in capital before fees at an average price of $9.94 per share.
Key IBD Ratings
The last time AMC paid a dividend came on March 23, 2020, at 3 cents per common share. If the company were to resume this cash payout, shareholders could attain an annualized 0.9% yield at the current price near 14 a share.
For now, AMC scores poorly in IBD's proprietary ratings. Headed into Monday's trading, they include a 23 Earnings Per Share Rating on a scale of 1 to 99; an E for Sales + Profit Margins + Return on Equity (SMR) Rating; and a 55 Composite Rating on a scale of 1 (wizened) to 99 (wizardly).
Meanwhile, AMC's movies industry group ranks in the top half of IBD's 197 industry groups in terms of six-month relative performance. Decent, but not outstanding. Mutual funds owning a stake in AMC rose to 202 at the end of March vs. 187 in Q4 of 2020. Some portfolio managers are eager to accumulate shares.
AMC Stock Forecast
When choosing growth stocks for the biggest potential gains based on the CAN SLIM investment paradigm, your chances of finding a true market leader improve when you focus on those with a Composite Rating of 90 or higher. Shooting for a 95 or higher, particularly at the start of a new bull market, is even better.
However, given that AMC stock is a turnaround play, it makes sense to place more emphasis on relative strength. AMC has that in spades.
A 98 Relative Strength Rating on a scale of 1 to 99 means that the company has outperformed 98% of all stocks in the IBD database. Strong long-term performance? Indeed.
Plus, notice on the weekly chart and in MarketSmith, how the relative strength line has been vaulting.
The RS line, drawn in blue, compares a stock or ETF's moves vs. the S&P 500.
When a stock breaks out of a new base, prefer to see the RS line also running to new high ground. This strongly suggests that a stock is now outperforming the general market.
At this point, AMC has created a boxy cup-like base over the past eight weeks. That's plenty of time for a solid cup pattern to form. This pattern produces a proper buy point of 10 cents above the cup's left-side peak. So in AMC stock's case, the correct entry stands at 14.64. You want to see heavy volume on the breakout.
Conclusion: Is It A Buy Now?
So while AMC stock is up big this week, it has to surpass 14.64 before becoming a new buy. The attempt on May 18 was short-lived.
At this point, will AMC form a cup with handle?
Also, remember to control your risk. Not all breakouts work, especially when the stock market uptrend is under pressure. The best time to buy? When IBD notes the market in a confirmed uptrend, it signifies that buying demand is healthy among institutional investors.
In stock investing, you certainly want the wind at your back, not in your face.
And after you buy any stock with solid prospects, don't forget the golden rule of investing. Keeping your losses small keeps you in the investing game for the long haul.
Please follow Chung on Twitter: @saitochung and @IBD_DChung
Pending Review Exercise to Close
I'm trying to buy 1,000 shares at 11, they can't find any shares for poor little me.
'Fast and Furious' Box-Office Win Offers Hope for Movie Theater Stocks -- Barrons.com
11:31 am ET May 24, 2021 (Dow Jones) Print
By Connor Smith
American moviegoers will have to wait until June to see Fast and Furious 9, but a strong debut overseas has the remaining movie theater bulls buzzing.
The film's international debut brought in $162.4 million in total box office sales, according to media reports, across eight international markets including China, South Korea, and Hong Kong. The bulk of those box office sales came from China, where it racked up $135.6 million. B. Riley analyst Eric Wold wrote Monday that the film's strong debut reinforces his view that movie theaters are primed for a recovery this summer.
AMC Entertainment Holdings stock (ticker: AMC) was up 13% to $13.64 Monday. Shares of IMAX ( IMAX) were up 2.5% to $21.90, while Cinemark Holdings stock (CNK) was up 3.1% to $22.43.
"We believe the momentum underlying the global exhibition industry in recent weeks and months, including strong film openings (against capacity headwinds), upcoming film slate stabilization, additional studio/exhibition window agreements and solidified balance sheets provides an attractive setup for the stocks of the group to move higher into year-end," Wold wrote.
Wold points to coming installments in 2021 from film powerhouses such as Marvel, as well as sequels to hits such as The Suicide Squad, Top Gun, and The Conjuring, which could see strong demand as more of the world reopens.
Wold maintained a Buy rating and $16 price target on AMC stock. He's the only analyst listed by FactSet who has a Buy rating on AMC shares. The mean price target for AMC sits at $4.86, according to FactSet.
Wold also has Buy ratings on theater firms Cinemark Holdings, IMAX, Marcus (MCS), and National CineMedia (NCMI).
AMC stock has attracted attention from retail investors, including many on Reddit's WallStreetBets forum. Such users latched on to AMC in January amid a broader squeeze in stocks that hedge funds bet against. AMC's short interest remains elevated, and such users are betting on a far bigger squeeze event as theaters reopen. AMC says it had more than 3 million individual shareholders at last count, with none holding more than a 10% stake.
To its credit, AMC has capitalized on the attention by selling shares and bolstering its balance sheet to weather shutdowns and prepare for a larger reopening.
On the flip side, some large AMC investors have cashed out. The latest was Wanda Group, AMC's largest shareholder. Wanda Group sold most of its remaining shares, AMC said on Friday. Wanda Group briefly owned all of AMC until it brought the movie theater company public in 2013.
Meanwhile, Colliers Securities analyst Steven Frankel used the F9 debut to reiterate his Buy rating and $25 price target on IMAX. He notes that IMAX saw a roughly 8.6% share of the total box office for F9's overseas opening weekend, and a 9.1% share in China. That was the highest share for a Fast and Furious film for IMAX since 2013 when it grabbed 8.8% of the total ticket sales.
"Clearly, there are near-term challenges, but at some point Imax is positioned to benefit from pent-up demand and a slew of high-profile releases," Frankel wrote. "Imax continues to play a critical role in the entertainment ecosystem, with strong relationships with Hollywood's most influential artists, studios and exhibitors creating an experience that is highly valued by consumers."
Write to editors@barrons.com
Cass, you can add a #5 to your list, Adam Aron said that NYC and LA are his most important markets, well NY's two Basketball teams sold out, people will go to see shows, boys and girls will soon find themselves all nervous holding hands and wondering what do I do next, America is Back!
I can tell shorts what to do next, Cover
Sliver keeps climbing, up today: Silver Futures 27.860 0.374 1.17%
AG is being held back.
AMC and Wanda's Unlikely Happy Ending -- Heard on the Street
6:38 am ET May 24, 2021 (Dow Jones) Print
By Jacky Wong
Dalian Wanda Group's Hollywood adventure has finally come to a satisfying close -- thanks to one last crazy twist.
The Chinese real-estate conglomerate has sold almost all of its remaining stake in U.S. cinema giant AMC Entertainment, according to a regulatory filing Friday. Wanda's two representatives will also resign from the theater chain's board of directors.
But Wanda probably won't shed a tear for the end of the nine-year relationship. The company made a surprise killing after AMC's share price rallied this year, fueled by the meme stock phenomenon, where frenzied online traders pushed up the share prices of small caps -- most notoriously game retailer GameStop. AMC has surged 470% in 2021 after the company found itself on the brink of bankruptcy last year due to the pandemic. The company had a market value of $5.4 billion Friday, but it was worth only about $200 million in April of last year, mostly because it managed to raise money through issuing new shares at the higher prices. Wanda spent $700 million to buy AMC in 2012 and the company said it has doubled its money. Wanda started selling AMC shares in December and has accelerated those sales this year as the Reddit-fueled frenzy continued to drive debt-laden AMC's share price higher.
Yet Wanda's Hollywood adventure wasn't the blockbuster it had hoped for. Under Wanda's management, AMC became the world's largest movie chain after buying rival Carmike and U.K.-based Odeon. Wanda also bought Legendary Entertainment, the film studio behind movies like "Godzilla vs. Kong" and "The Dark Knight," for $3.5 billion in 2016. Its chairman Wang Jianlin, once China's richest man, has previously expressed interest in buying one of the major Hollywood studios.
That Hollywood dream shattered when Beijing cracked down on the country's acquisitive and overly leveraged companies, which made billions of dollars of deals abroad in the early 2010s, as part of a broader official campaign against capital outflows and heavy leverage. HNA Group and Anbang Insurance ran into similar trouble. As part of its move to pare down debts, Wanda sold nearly $10 billion of theme park and hotel assets to two other Chinese developers in 2017.
Driven by the likes of Wanda, China's outbound mergers and acquisitions hit a record $215 billion in 2016, according to Dealogic. But Beijing's clampdown as well as a deteriorating Sino-U.S. relationship have slowed such deals dramatically: They only amounted to $32 billion last year, although deal volume may also have been affected by the pandemic.
Despite the happy ending, Wanda's foray abroad into Tinseltown still looks mostly like a cautionary tale: It was lady luck, not the company, who saved the day.
Write to Jacky Wong at JACKY.WONG@wsj.com
(END) Dow Jones Newswires
May 24, 2021 06:38 ET (10:38 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Where is Roll?
GME went up when AMC did earlier today, but GME is now up; while we are down. What gives? I'm in agreement with you about GME's relationship with AMC, not sure why.......but, you have been right.
I'm sure you have some thoughts, mind sharing? THanks, Slim
I believe they fixed the printing machine, looks like those counterfeits are flying off of the presses. I didn't even follow my own idea and only buy after hours, but so far, I hit the ask damn nearly at the high of the day, I'm not sure about Tuesday at 3:33PM, but I've watched BB attack Federal Officials before, hopefully, I won't lose any money following him.
Perhaps, or maybe the damn printing press got jammed up from printing counterfeit shares faster than it's recommended speed!
I did see that as I was catching up on my reading, I'm very thankful you posted it.
I also thought of something else while reading. Wouldn't you think it possible that before Wanda(sp?) and AMC get there day in court, Citadel is bankrupt?
Also, isn't BlackRock their banker? If so, would they have to make good on any settlement?
These are actually fairly important questions when one tries to put a value on AMC after the squeeze.
Yes, it makes sense, I certainly hope you're correct. Clearly, it's an interesting read, thanks for sharing.
What do you think of my idea that all Apes buy themselves 1 or 2bananas tomorrow after hours to jump the share price up for the start of trading on Friday, then slamming the ask at the close in hopes of a close higher than 14.01?
About time Apes put more pressure on these HF's.