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Failures To Deliver are supposed to post today, right? This is about to be epic...
Hmmm. That might help to explain why there was a need to create, and rush to implement, the increased liquidity requirements for HFs to protect the DTCC here recently.
What report? Where?
Why is it lagging behind price jump (like it did in Jan)?
I posted the company-stated O/S last night in #15542; along with the transcript of the CC...!
From the Pre-14A (from the link you posted)...
"As of the close of business on March 3, 2021, the latest practicable date before the filing of this proxy statement, there were 450,156,186 shares of our Common Stock issued and outstanding and 10,920,763 shares of Common Stock reserved for issuance under the EIP. Accordingly, 63,096,124 shares (including 3,732,625 treasury shares) of the total number of shares of Common Stock currently authorized remain available for issuance or may be reserved for issuance prior to any amendment to increase the authorized shares of Common Stock."
"As a result of the retirement of our Class B common stock pursuant to a Certificate of Retirement filed with the Secretary of State of the State of Delaware on February 24, 2021, our Certificate of Incorporation currently authorizes the issuance of up to 574,173,073 shares of capital stock, consisting of (i) 524,173,073 shares of Common Stock and (ii) 50,000,000 shares of preferred stock."
AMC O/S "Growth" equaled Debt reduction! Which was good for the overall company because they purchased it at $13.51/shr. Which was also all kept within the boundaries of the existing Authorized Shares level of 574,173,073 too.
From the big picture they didn't dilute as much as convert existing. Class B (3 votes per share) moved columns to Class A (1 vote per share) instead. So 2/3rd management influence thru voting power was handed back to shareholders.
How they move forward with that is up to debates and votes now. Expanding/keeping A/S, increasing/reducing O/S, share buybacks, static state, dividends, whatever else gets proposed... propose what you want to management! I would agree, and vote for, share buyback and retire to lower O/S too! But they also have to avoid a takeover and ensure enough registered shares (not synthetics) are available. An audit can help keep that clear, but step one was to get out from under the debt and influence umbrella first.
deadline.com/2021/01/amc-entertainment-silver-lake-swaps-debt-for-equity-as-cinema-chains-stock-surged-1234682417/
deadline.com/2021/03/amc-entertainment-adam-aron-wanda-silver-lake-reddit-movie-theaters-1234711907/
That makes two now bringing up the rear of the wagon train. B.Riley also just upped theirs to $7...
Hah! Good analogy.
The only way they can win is if you hand them the ball and give up.
Speaking of that. What's everyone's thoughts on the subject of the "follow the leader" or coupling of meme stocks???
It's like several stocks on the radar (GME, AMC, NOK, SENS, etc) all have the exact same algorithm or issuing system controlling them for when they get shorted, when they boost, and when they churn. It's like a 3-position switch that just gets thrown instead of acting like individual stocks rising and falling on their own merits/demerits. It's not "across the board" or market-wide either because SWRM didn't take hits at all during the shakes within the others. It's just too much of a mirror and there are just too many coincidences to avoid lumping in the possibility of the shorting HFs colluding, coordinating, blatant market manipulating, and/or influencing... (ie. a certain news source only releasing hit pieces). We're hearing about the DTCC/NSCC but what (if anything) has the SEC done to stop either side from crossing improper lines? Anyone hear of anything? (that is other than pulling a retail investor DFV in front of congressional hearings only to find out he is free to invest in whatever he wants). I'm wondering if I'm just missing some enforcement news somewhere...?
I'm also wondering if GME/AMC are tied together for the long haul or if there will be a "decoupling" of AMC in the near future, and how? Like if the volume forces a squeeze of a much bigger magnitude of what GME can do due to share price difference? or are the ratios tied directly together based on share floats from here on out?
Thoughts?
Agreed! I've been saying they are pulling out ALL the stops this time...because their beloved funds (and upper case Funds too) are on the line with this event.
Prediction: HF's are worried/panicking and given their history look for even more, and growing in desperation shrieking, misdirection, misvaluations, bear-raids, media shilling, etc as they try to ease the pain.
It'll be up to the longs to determine how much, or little, the HF's suffer by moving the PPS goalposts. If price stays low the HFs get out with a slap on the wrist. If moon high, then we'll see HFs go bankrupt, get bought out by bigger fish, pay massive amounts to longs to close positions, etc. I'm hoping for high PPS, but that really depends on others rather than what I do with my measly hold. We'll have to see what happens.
That penny article was hilarious and probably a desperate attempt to counter the Wedbush article (about the minimum value doubling to $5 by an analyst) that came out just prior.
All IMO.
What will be horrible news for "the system" but great news for AMC shareholders is if the synthetics are way above and beyond the O/S. One can imagine what happens when those shares have to be purchased to reconcile and zero out the IOU balance sheet PLUS the incoming calls being filled if we close high on next 2 Friday's!
Buckle up, next 2 weeks are about to get bumpy and interesting.
imo
Actually, per the conference call, O/S is currently at 450.2M per Sean Goodman. That does not include synthetics and naked shorts of course.
Transcript: fool.com/earnings/call-transcripts/2021/03/11/amc-entertainment-holdings-amc-q4-2020-earnings-ca/
Quote: "The total outstanding share count as of March 3, 2021, is 450.2 million shares. As we move forward from 2020, we are doing so with renewed confidence that AMC and our industry has turned a corner. And with that, I will pass the call back over to Adam."
So that means this cup and handle, price action and the bull price increases are happening DESPITE the normally negative share conversions/additions which would've normally lowered (diluted) share pricing. That's just a testament to just how bad the short positions are and just how solid the strategy is with locking shares up for longs. (imo) There just aren't enough shares for all the shorts to cover in time without huge PPS skyrockets as a result... as long as the issuance dries up (company finally looking healthier so no reason for more) AND the float stays locked up (that's up to institutions & retail---us).
Not trying to Debbie-Downer, just keeping the record clear and stating what was presented. I'm still long and bullish, even more so now, BECAUSE of the bigger picture and how it's overcome challenges by still kicking butt.
They (shorts) are pulling out all the stops, because bankruptcy might be on line for them if they don't cause enough FUD now. imo
I just remember the hedge vid with Cramer about deception, lies, and anything but the truth because it doesn't work to their favor.
Got it, thanks! Firefox doesn't like that tab for some reason, have to run it in separate browser.
Where are you finding that? I know Fidelity captures that buy/sell ratio and publishes after close, but does someone have real-time tracker?
$10 by 10am. Good call! At least it worked for my time zone!
Hit at 09:35MST... :-P
Nice pennant chart today...
tip at close? or breakout before? Hmmm
LOL! First time I've heard this one was this morning on an AMC thread...
What's worse than FOMO?
MO
My opinion.
The filing took too long in propagating out last week and didn't really hit people's radars until late week. Then there was alot of "what does this mean???" discussion and debate; especially on Reddit /amcstocks. Once it was figured out what and why the move was for it was already mid Friday. No real time for a market sentiment move. Real move (if any) will probably start Monday as motives were flushed out over this weekend.
It won't "force" naked shorts to close, true, but an audit usually brings alot more prying eyes and unwanted attention where someone that was involved in the practice probably doesn't want all the (bad) publicity or wrath of the masses that would follow. But hopefully any close of position only helps PPS either in support or boost.
Again, just my opinion and we'll see the reaction (if any) between Mon and Thurs, with options closing Friday....and earnings, and PR's, and....
Gonna be a bumpy road. :-P
Absolutely agree it's easier to hide, but not on the nothing will come from it. A full audit (under the umbrella of shareholder query/list) can uncover real/naked share existence or commitments above and beyond 100% which will raise eyebrows and expose squeeze potential magnitudes. IMO.
I took away that they are moving from a monthly reconciliation to a daily instead for assessing exposure risk.
DTCC doesn't want hedges to become so overextended that debts in case of failure spill over into the DTCC needing to cover the HF losses. And alot changes in a month. Either the HF has enough liquidity to cover their own mistakes or they don't...and forced margin/buy-in/closing needs to happen on a more timely fashion if they don't have the means to cover.
Am I close ThumpThump?
It's not beginning share count process on 11 Mar, it's FINISHING share count process by 11 Mar!
"Our Board has fixed the close of business on March 11, 2021 as the record date for determining the stockholders entitled to notice of and to vote at the Annual Meeting of Stockholders or at any adjournment or postponement thereof. A list of these stockholders..."
That means the audit and exam scrub of shareholders is FINISHED by COB 11 Mar...THIS THURSDAY!
"No stopping hegies Never . Ever. Ever. Forget about it".
Except this one...oh, and that one too. Hmm, there's a third? Oh wow, there's a top ten list of failed hedgefunds?!? Google can be your friend. :-P
investopedia.com/articles/mutualfund/05/hedgefundfailure.asp
investopedia.com/articles/investing/101515/3-biggest-hedge-fund-scandals.asp
We find your comment false and misleading. Have a nice day.
Just one point of clarification. Your posted Reddit has the statement, "By May 4, absolute 100% of Synthetic AMC shares should be covered, no exceptions and excuses whatsoever!!!" That's just the meeting date.
According to the official AMC filing it should be alot sooner than that! "Our Board has fixed the close of business on March 11, 2021 as the record date for determining the stockholders entitled to notice of and to vote at the Annual Meeting of Stockholders or at any adjournment or postponement thereof. A list of these stockholders..."
That means the audit and exam scrub of shareholders is FINISHED by COB 11 Mar...THIS THURSDAY!
I wouldn't be surprised at all if there are PR's/news reports/announcements if anything fishy is found during the audit.
Bear trap?!? Play along with shorts just enough to drop PPS 10% and put stock SSR in place for today AND TOMORROW (when close dictates call options) and then bring price back up to squeeze? Wow, talk about chess moves...
Hedge fund bear raid on market makes sense. Because what do they have to lose anymore...?
(Other than BILLIONS and bankruptcy because of positions they put themselves into that is) Might take some MM issuers with them this time too.
Thanks for the response/perspective and I got the PM.
Your trading style and mine are close with swing and no margin (I haven't optioned or scalped...yet?); I just buy/hold/sell for long terms until price targets are hit and can hold forever as needed as well.
As requested, my opinion:
Those two charts didn't have as much of a effect on me as much as zooming out some and seeing the classic textbook cup and handle in a more macro longer-term view. Guess it just depends on how close we want to set the sights, eh?
The channel formation which, if precedence holds, means a big push change within a couple weeks. Rather than news, the options chain may make that happen as a catalyst IF the closing price cooperates (regardless of volume). Volume is a secondary factor now. Because as it coils tighter the availability of shares dry up which leads to more price action on less volume...(unless it goes stalemate, synthetic shares notwithstanding). It's just a matter of how big of a penalty shorts want to impose on themselves (A. lose big now by covering quick at lower end and maybe convert to a long position via call options knowing squeeze will propel PPS up and they can ride the wave, -or- B. lose much bigger later at upper end knowing it'll only propel PPS artificially further up than the first option and hope to recoup some by shorting on way back down from the moon (if they can find buyers in outer space anymore), -or- C. hope that nobody flinches, options never exercise, catalysts never present, all the longs sell, pay the FTD penalties, and everything just fades away; which is unrealistic at this point). Seems like the first shorts to blink and cover have the least amount of pain in this scenario so far. Between call shares delivery, short covers, natural buy pressure, previous "normal" PPS levels of $35 within a few years ago, company health improvements, and FOMO, this could be a FAST move up. The speed bumps will be where sell PTs are set. (Mine are in hundreds to stay out of the way and see what this can do.
But with as big as this cup is I'm more than willing to wait for however long it takes.
All IMO of course.
It's a shame. This stock was running $5-10 in 2012-2015 and I enjoyed playing their mobile games when they acquired the titles. Looked like it was laddering up on a recovery from a bad email hack or business distraction and dropped to the ground floor the end of 2016 as it dealt with correcting it. I thought this was going to be a good bounce or even a dead cat play, but PPS hit the ground and has laid here quivering ever since unfortunately. My shares have just sat here waiting and watching for a decent price to return; but that hasn't shown up to date.
It looks like the company did all the right moves, mergers, retired shares, personnel, share structure is attractive now, and market cap is way low (especially for all the good stuff they offer), etc.
But it just sits here flying low under everyone else's radar barely making ripples regardless of meaningful, useful, and fun products; just not enough eyes on it...? (my guess) Even good news seems to barely touch it anymore. But when it does move it's herky jerky and FAST! Which probably points to very manipulated unfortunately...
Just some observations from a lurker who has been here since 2017.
Care to tell us amateurs what you're keying in on within the charts? What are they telling you?
Might need a refresh. That link shows $8.48 After Hours 7:59PM EST for me with a $8.58 at close price.
Hmmmm. Fintel currently showing "0" for short shares available and "N/A" for Short Borrow Fee Rate. Never saw that one before during off hours.
Will have to recheck this closer to premarket, might be a good sign if it's still in place later today.
ref: fintel.io/ss/us/amc
Correct. Saw it real-time, it was within a couple seconds'ish of closing bell. I snapshotted it also and mine shows 14:00:02 (MST).
That's the trade we were talking about at/around 4:03-4:15pm below. Showed for me on TDA and does show on chart (daily) above in this board (big 4M+ spike). Came in right at close. Might have been a cross trade, but not certain.
Looks even better now to me because that would be normal price action of a cup and handle chart. (And by itself does NOT include hype about gamma&short squeezes or acquisition news or whatever... Seems those would only augment, boost, or add to the toppings on the popcorn. :-P
Bullish signal? Can anyone look at the 1 month (or even more pronounced in the 6 month) and tell me how this is NOT a cup and handle???
Even today fits perfectly with handle establishment with, "selling pressure is likely to make price consolidate with a tendency toward a downtrend trend...before advancing higher."
ref: investopedia.com/terms/c/cupandhandle.asp
Anyone see otherwise?
That's mostly correct. Or at least I was able to recreate your math to get 2,522,285 shares also. Point of clarification though, it was yesterday vice today since filings were on the 1st.
PMJIX-1310
NAESX-680593
VTSMX-549578
JESIX-5505
BBVSX-9772
VITNX-12770
NSIDX-16207
VEXMX-865101
VISVX-381449
Total=2,522,285 shares absorbed by institutional investors 1 Mar.
Sounds like a quote that will be brought up again and haunt Howard by the 19th, let alone the entire year... "AMC will never hit over 9.00 this year lol"
Guess we'll find out.
I don't see share increases for SHYAX, JETSX, or VBINX...just valuation updates. Thus my count of 9.
Is that NINE institutional investors that increased their holdings per registrations yesterday?!? Wow! Yup, something's in the works...
He's talking about a 4,821,223 share trade for a mere $43,053,521.39 two seconds after the bell. (I believe)