Now known as "What a bunch of bullshit"

'But.. to Fly' or not to fly....

That is the question on the minds of the reddit crowd for Monday.

T

9/30/23

15.02

AT&T (Nyse: T)

SEC, nasdaq, ShortSqueeze

Finviz, StockTA, Stoxline,

Dividend History

T gap up Aug-29-2023 14.265 to 14.45

These 14 Words from AT&T's CEO Explain What Needs to Happen Next for the Stock to Recover Fully

© Provided by The Motley Fool

AT&T (NYSE: T) is one of the oldest and largest telecom companies in the U.S., with roots going back to 1876. These days, however, the stock has been synonymous with underwhelming returns and plenty of disappointment. Its 2018 merger with Time Warner didn't pan out, as the company has gone from focusing on growth and expanding into streaming to now just being a regular telecom provider again. But that might not be a bad fit for the business, especially if it can sustain its high dividend, which today yields 7.3%.

CEO John Stankey is optimistic that the company is heading in the right direction. And it may only be a matter of time before the stock begins to turn things around.

The CEO believes AT&T's stock is undervalued

Year to date, shares of AT&T are down 18%. Over a period of five years, they have declined by more than 40%. The stock's abysmal performance has pushed up its yield to more than 4 times the S&P 500 average of just 1.6%. Investors, however, appear to have doubts about the yield, as there isn't a big rush to buy the stock.

However, Stankey believes that the stock price is undervalued and due to increase. At a tech conference in San Francisco this month, he said: "It disappoints me that maybe folks aren't willing to bid the stock up to what I think is the fair value." Stankey says that the company is still in the midst of a transition. Last year, it spun off its stake in WarnerMedia, which is now part of Warner Bros Discovery.

What does the company need to do to turn things around?
AT&T's business isn't in horrible shape. The company has reduced its net debt by approximately $20 billion over the past three years, and it has been generating growth among fiber and postpaid phone subscriptions.

Stankey says that AT&T's goal is simple -- "We just need to every day come in, run it [the business], and do our best," -- and that by doing so, the company can achieve its goals and win over investors. One of the key goals it has set for the year, which would be a big win, is generating $16 billion in free cash flow. That's one that investors may be feeling a bit unsure of these days.

During the first quarter, which ended on March 31, the company's free cash flow totaled just $1 billion. In the second quarter, free cash flow improved to $4.2 billion -- but that also means its year-to-date total is $5.2 billion, which is well short of the halfway mark. Management, however, remains confident in being able to reach its target of $16 billion for the full year.

Given the company's underwhelming performance over the years, investors may be looking at the business with a healthy dose of skepticism. If, however, AT&T does deliver on its ambitious goal for free cash flow, it could certainly go a long way toward making investors more bullish on the stock, as it would also suggest the dividend is safe. Simply hitting its goals may be enough for AT&T to turn its doubters into believers.

Hopium.

It's a strong addictive drug. It can cost you every dime you have.

Looks like the 'We Won' thought pattern comes from the fact BBBYQ changed it's name to...

20230930-DK-Butterfly-1, Inc.
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000886158&owner=exclude&count=40

Some diehards believe that this is a 'new company' which will give them new shares. (Butterfly = Teddy) LOL

That thought is encouraged (and explained) by comments like this (from twitter) and is starting to pop up everywhere, as "facts like this" 🤣often do.

It can be brutal. But it also can be helpful.

He said crock. Not crook

How so dwagom?

Knucklehead

Hopefully no one is surprised by that.

I'll be curious to see if OSTK now takes the symbol to go with their remake of bed bath and beyond.

I'm sure they will, but I hope they rethink that.

It's a symbol of failure and now it will have a horrible history of false hopes that go along with it.

It's done. They are Cancelled.

https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000119312523247428/d579010d8k.htm


As previously disclosed, on April 23, 2023 (the “Petition Date”), 20230930-DK-Butterfly-1, Inc. (f/k/a Bed Bath & Beyond Inc., the “Company”) and certain of its direct and indirect subsidiaries (collectively, the “Company Parties”) filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”).



Item?1.03.
Bankruptcy or Receivership.

On September 14, 2023, the Bankruptcy Court entered its order (the “Confirmation Order”) confirming the Second Amended Joint Chapter 11 Plan of Bed Bath & Beyond Inc. and Its Debtor Affiliates (the “Confirmed Plan”). A copy of the Confirmation Order was attached as Exhibit 2.1 to the Current Report on Form 8-K filed on September 20, 2023, and is incorporated by reference into this Item 1.03. Capitalized terms used in this Current Report on Form 8-K and not otherwise defined will have the meanings given to them in the Confirmation Order.

The Confirmed Plan became effective (the “Effective Date”) on Friday, September 29, 2023. On September 29, 2023, the Company Parties filed a Notice of (A) Entry of the Order (I) Approving the Disclosure Statement on a Final Basis and (II) Confirming the Second Amended Joint Chapter 11 Plan of Bed Bath & Beyond Inc. and its Debtor Affiliates and (B) Occurrence of Effective Date (the “Notice of Effective Date”) with the Bankruptcy Court. A copy of the Notice of Effective Date is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The foregoing description is a summary of the material terms of the Notice of Effective Date, does not purport to be complete and is qualified in its entirety by reference to the full text of the Notice of Effective Date filed as Exhibit 99.1 to this Current Report on Form 8-K.

Cautionary Note to Holders of the Company’s Common Stock and Series A Convertible Preferred Stock

As a result of the Confirmed Plan becoming effective, all of the Company’s equity interests, consisting of outstanding shares of common stock and Series A Convertible Preferred Stock of the Company and related rights to receive or purchase shares of common stock, were cancelled on the Effective Date without consideration and have no value.

No shares of the Company’s common stock or Series A Convertible Preferred Stock will be reserved for future issuance in respect of claims and interests filed and allowed under the Confirmed Plan or pursuant to the exercise of any rights, options or other obligations of the Company to issue its common stock and/or Series A Convertible Preferred Stock.

The Company intends to file a Form 15 with the SEC deregistering the Company’s common stock pursuant to Rule 12g-4(a)(1) under the Securities Exchange Act of 1934 (“Exchange Act”). Upon filing the Form 15, the Company intends to immediately cease filing any further periodic or current reports under the Exchange Act.



Item?3.03.
Material Modification to Rights of Security Holders.

The Confirmed Plan provides that on the Effective Date, except as otherwise specifically provided for in the Confirmed Plan, any remaining obligations of the Company Parties under any notes, bonds, indentures, certificates, securities, shares, purchase rights, options, warrants, collateral agreements, subordination agreements, intercreditor agreements, or other instruments or documents directly or indirectly evidencing, creating, or relating to any indebtedness or obligations of, or ownership interest in, the Company Parties, giving rise to any Claims against or Interests in the Company Parties or to any rights or obligations relating to any Claims against or Interests in the Company Parties shall be deemed cancelled solely as to the Company Parties and their affiliates and the Company Parties will not have any continuing obligations thereunder. The Confirmed Plan further provides that the obligations of the Company Parties and their affiliates pursuant, relating, or pertaining to any agreements, indentures, certificates of designation, bylaws, or certificate or articles of incorporation or similar documents governing the notes, bonds, indentures, certificates, Securities, shares, purchase rights, options, warrants, collateral agreements, subordination agreements, intercreditor agreements, or other instruments or documents evidencing or creating any indebtedness or obligation of or ownership interest in the Company Parties shall be released, settled, and compromised.



2

The certificates, shares and ownership interests and related agreements, purchase rights, options and warrants to be cancelled on the Effective Date include all of the Company’s common stock and related rights to purchase or receive shares of common stock.



Item?5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The Confirmed Plan provides that on the Effective Date, all directors, officers and managers of the Company will be discharged without any further action. Each of the Company’s directors, Harriet Edelman, Jeffrey Kirwan, Shelly Lombard, Joshua E. Schechter, Minesh Shah, Andrea M. Weiss, Ann Yerger, Carol Flaton and Sue Gove, and the Company’s remaining officers, including Sue Gove, President and Chief Executive Officer, Laura Crossen, Senior Vice President of Finance and Chief Accounting Officer, Lynda Markoe, Executive Vice President, Chief People & Culture Officer, and David Kastin, Executive Vice President, Chief Legal Officer & Corporate Secretary, ceased to be directors and officers of the Company on the Effective Date.



Item?5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On September 21, 2023, the Company filed with the New York Secretary of State a Certificate of Amendment (the “Certificate”) to the Company’s Amended and Restated Certificate of Incorporation to change the Company’s name from “Bed Bath & Beyond Inc.” to “20230930-DK-Butterfly-1, Inc.” This name change was implemented by the Company pursuant to the Confirmation Order entered by the Bankruptcy Court.



Item?7.01.
Regulation FD Disclosure.

On September 21, 2023 the Company filed with the Bankruptcy Court the monthly operating report for the period ended August 31, 2023 (the “Monthly Operating Report”). The Monthly Operating Report is attached hereto as Exhibit 99.2. This Current Report on Form 8-K (including the exhibit hereto) will not be deemed an admission as to the materiality of any information required to be disclosed solely by Regulation FD. The Monthly Operating Report, monthly operating reports filed on behalf of each of the other Company Parties, and other filings with the Bankruptcy Court related to the Chapter 11 Cases may be available electronically at https://restructuring.ra.kroll.com/bbby/.

The information contained in this Item 7.01 and in Exhibit 99.2 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such a filing.

Cautionary Statement Regarding the Monthly Operating Report

The Company cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The Monthly Operating Report is limited in scope, cover a limited time period and have been prepared solely for the purpose of complying with the monthly reporting requirements of the Bankruptcy Court. The Monthly Operating Report was not audited or reviewed by independent accountants, was not prepared in accordance with generally accepted accounting principles in the United States, is in a format prescribed by applicable bankruptcy laws or rules and is subject to future adjustment and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the Monthly Operating Report is complete. The Monthly Operating Report also contains information for periods which are shorter or otherwise different from that required in the Company’s reports pursuant to the Exchange Act, and such information might not be indicative of the Company’s financial condition or operating results for the period that would be reflected in the Company’s financial statements or in its reports pursuant to the Exchange Act. Results set forth in the Monthly Operating Report should not be viewed as indicative of future results.

SQ CPPS 45 9/29/23
$40.55 open gap from 3/23/20

Is Square Stock A Buy As Analysts Eye Merchant Business Shake-Up?

https://www.investors.com/news/technology/sq-stock-buy-now/?src=A00220

REINHARDT KRAUSE12:30 PM ET 09/25/2023
Many technology stocks have outperformed in 2023 amid buzz over artificial intelligence technology. But investors have left Square parent Block (SQ) and SQ stock out of the party.

For digital payment processor Block, the growth trajectory of Square's consumer Cash App is one issue. There's also cryptocurrency Bitcoin and the Afterpay acquisition. Also, Square faces growing competition on many fronts.

Meanwhile, Square stock has retreated 28% so far in 2023. The Nasdaq composite has surged 27%, though it pulled back recently. Some technical ratings for SQ stock have weakened.

In its core businesses, Square stock aims to build a two-sided digital payments ecosystem, with products designed for both merchant sellers and consumer buyers.

Block faces slowing growth for its consumer Cash App in 2024, UBS analyst Rayna Kuma said in a recent note to clients.

Also, some investors fear potential weakness in Square's point-of-sale business amid growing competitive pressures from Toast (TOST) in restaurants and Fiserv's (FISV) Clover unit generally.

Block replaced the head of its merchant Square business, Alyssa Henry, with Block founder Jack Dorsey. SQ stock fell Tuesday on the news. At Wolfe Research, analyst Darrin Peller focused on gross profits in a recent report. Gross margin is how much a company earns from revenue before subtracting operating expenses, taxes and interest.

Peller said the Square business needs to expand faster internationally, a move that could improve profitability.

SQ Stock: Marqeta Deal Renewed

Square and Marqeta (MQ) on Aug. 8 said they have renewed their transaction services agreement for Cash App and Afterpay.

In July, Bloomberg reported that Block is suing Visa (V) and Mastercard (MA) on antitrust grounds, alleging that both credit card networks are overcharging U.S. merchants through high cost interchange and merchant location fees.

Amid rising fears of a U.S. recession, one question is how resistant Square will be to a business downturn. The relatively low income levels of Square's customer base is one factor for investors to consider if the U.S. economy weakens, analysts say.

Square Stock: Cash App Growth

The Square Cash App helps individuals manage money, buy stocks and cryptocurrency, and more. Block aims to bridge the Cash App and merchant ecosystems with consumer financing services from Afterpay, acquired last year.

Short-seller Hindenburg Research in March issued a report claiming Square has inflated Cash App user metrics.

The Square Cash App, a peer-to-peer money-transfer service, competes with PayPal's Venmo, Zelle and others.

Square management has outlined a new long-term investment framework, which will put the company on the road to higher quality earnings under generally accepted accounting principles, often known as GAAP.

One bright spot: Square holds $5 billion on its balance sheet. In addition, Square stock uses a dual class structure of common stock, which gives insiders more voting power.

Block Stock: Tough Times For Crypto

In late 2021, Square changed its name to Block, while retaining the ticker SQ. In part, the move reflected the company's commitment to blockchain technology, which underpins cryptocurrency.

Meanwhile, Bitcoin has rallied during the banking crisis. But Bitcoin is still down significantly from its high near $68,900 in November 2021.

Block has aimed to build infrastructure that enables bitcoin-based commerce on its merchant platform. In addition, Square created a new business line to help developers build financial services products focused on Bitcoin.

SQ Stock: Cash App Growth One Key

Cash App user growth and monetization is key to the outlook for SQ stock. Cash App growth soared during the coronavirus pandemic amid government economic stimulus. The bearish view is that Cash App growth will slow as the U.S. economy normalizes.

The company retains the Square brand for merchants that use its point-of-sale technology and services.

Square on Jan. 31, 2022, closed the acquisition of Australia-based consumer lending startup Afterpay. Its growth has slowed. Further, fintech companies like Afterpay that are "buy now, pay later," or BNPL, face increased regulation.

Announced Aug. 1, 2021, the Afterpay deal was originally valued at $29 billion. With the big drop in Block stock, the deal was valued at less than $15 billion at closing.

In the emerging BNPL market where Afterpay competes, the players there are encroaching on credit card networks. Apple (AAPL) has emerged as a rival to Afterpay. Another rival of Afterpay is Affirm Holdings (AFRM).

Some investors questioned whether Block needed to buy a company in this sector as opposed to building up its own capabilities or partnering. Competition is heating up in the BNPL market.

Another questionable deal: Square acquired a majority stake in Jay-Z's Tidal music streaming service for $297 million in cash and stock.

Block Stock: Competition Heats Up

With multiple products, SQ stock faces stiff competition in both consumer financial apps and the small business market. Rivals include PayPal Holdings (PYPL), First Data's (FDC) Clover unit, Shopify (SHOP), merchant acquirers, and well-funded startup Stripe.

For merchants, Square makes credit-card readers that plug into mobile devices. Its Square Capital division provides loans to sellers.

During the coronavirus pandemic, Cash App emerged as a digital alternative to traditional banks. Consumers used the Cash App's direct-deposit feature to receive government stimulus payments, for example.

The bearish view is that Cash App's momentum proves transitory with low customer retention after the coronavirus pandemic.

With roots in serving such micromerchants as food trucks and farm-stand vendors, Square has moved "upmarket," targeting larger businesses.

In addition to selling credit-card readers, Square provides software for point-of-sale and back offices in order to manage inventory and other tasks.

Square recently focused on software products that can be used across many industries, such as invoicing, payroll and marketing. It also aims to integrate its payment tools into e-commerce platforms.

SQ Stock Fundamental Analysis

Square earnings and revenue for the second quarter topped views but gross payment volume from merchant customers missed. SQ stock sold off on management commentary regarding business trends.

June-quarter earnings rose 116% to 39 cents, topping estimates of 36 cents. Net revenue rose 26% to $5.53 billion versus estimates of $5.1 billion.

Analysts had projected earnings of 36 cents a share on revenue of $5.1 billion. Gross payment volume rose 40% to $54.2 billion, just below estimates of $54.5 billion. Gross profit for Cash App rose 37% to $968 million versus estimates of $935 million.


But overall gross profit growth slowed to 27%, or $1.87 billion, from 32% in the first quarter. Management forecast further third-quarter deceleration to 21% growth.

Cash App active monthly users reached 54 million in the June quarter, up slightly from 53 million in the March quarter.

Earnings before interest, taxes, depreciation and amortization, called EBITDA, jumped 105% to $384 million, handily beating estimates of $297 million.

Block said it expects $1.5 billion in adjusted EBITDA in 2023, including the $87 million beat in the June quarter. Analysts had called for full-year EBITDA of $1.36 billion.

Is Square Stock A Buy Or Sell Right Now?

SQ stock plunged about 61% last year.

Technical ratings have weakened. Square's Relative Strength Rating stands at 13 out of a best-possible 99, according to IBD Stock Checkup. The best stocks tend to have an 80 or better RS Rating.

The relative strength line, the blue line in the chart above, compares a stock's price performance with that of the S&P 500. A downward-trending RS line tells you the stock is underperforming the general market.

Block stock holds an IBD Composite Rating of 51 out of a best possible 99.

SQ stock, meanwhile, has an Accumulation/Distribution Rating of E. The rating runs from a best-possible A+ to a worst-possible E. The rating analyzes price and volume changes in a stock over the past 13 weeks of trading.

As of Sept. 25, SQ stock holds a cup base entry point of 89.97. Block stock trades well below the entry point.

NKE Gap at 89.78

CP and BB#s

AMZN 127.34 /106.79 gap & 200 (curr 112.79)


GOOGL128.45 /112.94 gap & 200 (curr 111.61)


SHOP 53.86 / 47.97 Gap


ROKU 83.26 / 200 (curr 64.04) & 56.45 gap fill w tail


UPST 61.56 / 14.13 gap


RNG 38.88 (unknown)


TWLO 64.77 (unknown)


PYPL 93.77 / (unknown)


RBLX 37.13 / (unknown)


SQ 68.31 / (unknown)

Earnings updated 9-27-23

NKE 9-28 A

NFLX 10-18 A

T 10-19 B

SBUX 11-2 A
SQ 11-2 A
________________________________________________________

AAPL
ABNB
AMZN
BP
DIS
DOCU
GOOGL
HA
MESA
MMM
PINS
PLTR
PLUG
PYPL
QCOM
RBLX
RIG
RKT
RNG
ROKU
SHOP
TSLA
TRVG
TWLO
UPST
ZM

HIGH FLYERS OF THE PAST (updated 9-27-2023)
50% retract numbers off highs. (when tracking started)
Low numbers hit and % off of those highs
_____________________________

AAPL
182.94 H on 1/7/22 (after 4/1 Split: 8/31/20 @524)
50% drop = 91.47
124.17 L on 1/6/23 (-32.12 % off of High)



ABNB
212.58 H on 11/19/21
50% drop = 106.29
81.91 L on 12/28/22 (-61.46 % off of High)
IPO 68 12/10/20 129 low after IPO



AMZN
188.65 H on 7/16/21 (reflecting 20/1 Split: 6/3/22 @3773 )
50% drop = 94.32
81.43 L on 1/6/23 (-56.83% off of High)



DOCU
314.76 H on 8/10/21
50% drop = 157.35
39.57 L on 11/9/22 (-87.42% off of High)



GOOGL
151.55 H on 2/2/22 (reflecting 20/1 Split: 7/18/22 @3031)
50% drop = 75.775
83.34 L on 11/3/22 (-45% off of High)



PINS
89.90 H on 2/16/21
50% drop = 44.95
16.14 L on 5/24/22 (-82.04 % off of High)



PYPL
309.14 H on 7/26/21
50% drop = 154.57
57.29 L on 8/18/23 (-81.46% off of High)



RBLX
141.60 H on 11/22/21
50% drop = 70.80
21.65 L on 5/10/22 (-84.71% off of High)
IPO 45 3/10



RNG
449.00 H on 2/16/21
50% drop = 224.50
25.32 L on 5/4/23 (-94.36% off of High)



ROKU
490.76 H on 7/27/21
50% drop = 245.00
38.26 L on 12/28/22 (-92.20 % off of High)



SHOP
10/1 split 7/1/22
176.29 H on 11/19/21 (split adjusted high from $1762.92)
50% drop = 88.14
23.63 L on 10/13/22 (-86.59% off of High)



SQ
289.23 H on 8-5-21
50% drop = 144.61
NEW LOW 44.43 L on 11/3/22 (-84.63 % off of High)



TWLO
457.30 H on 2/18/21
50% = 228.65
41.00 L on11/4/22 (-91.03% off of High)



UPST
401.49 H on10/15/21
50% drop = 200.745
11.93 L on 5/3/23 (-97.02% off of High)



ZM
588.84 H on 10/19/20
50% drop = 294.42
60.45 L on 4/28/23 (-89.73 % off of High)

Amazon.com Hit With FTC Lawsuit Alleging 'Anticompetitive' Business Tactics; Shares Fall

3:29 PM ET, 09/26/2023 - MT Newswires

03:29 PM EDT, 09/26/2023 (MT Newswires) -- Amazon.com (AMZN) is facing a lawsuit from the US Federal Trade Commission and 17 state attorneys general, accusing the e-commerce giant of using "anticompetitive and unfair strategies to illegally maintain its monopoly power" in the online marketplace.

The antitrust regulator said Tuesday that it and states, including New York, Delaware, Maryland, and New Jersey, allege that Amazon conducts anticompetitive practices in both the online superstore market and the online services market. The company deploys "anti-discounting measures that punish sellers and deter other online retailers" from offering prices lower than Amazon, according to the complaint.

The lawsuit alleges, among other things, that the company replaces search results with paid advertisements, intentionally increases junk ads, and charges costly fees on sellers that "currently have no choice but to rely on Amazon to stay in business." The company's shares were down 4.3% in late Tuesday afternoon trade.

In all, such fees force many sellers to pay almost half of their total revenue to Amazon, harming not only sellers but also shoppers, according to the suit.

"Our complaint lays out how Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies," FTC Chair Lina Khan said in a statement. "The complaint sets forth detailed allegations noting how Amazon is now exploiting its monopoly power to enrich itself while raising prices and degrading service for the tens of millions of American families who shop on its platform and the hundreds of thousands of businesses that rely on Amazon to reach them."

The FTC and state partners are seeking a permanent injunction in federal court that would bar the company from engaging in its "unlawful conduct and pry loose Amazon's monopolistic control to restore competition," according to the complaint.

The lawsuit is "wrong on the facts and the law," Amazon General Counsel David Zapolsky said in a statement.

"Today's suit makes clear the FTC's focus has radically departed from its mission of protecting consumers and competition," he said. "The practices the FTC is challenging have helped to spur competition and innovation across the retail industry, and have produced greater selection, lower prices, and faster delivery speeds for Amazon customers."

In June, the FTC said in a complaint that Amazon allegedly enrolled consumers in its Prime paid subscription service without their consent and made it hard for them to cancel their subscriptions.

GAPS updated 9/27

ROKU 73.80 filled 38 days
NKE 91.61 filled 221 days
NKE 93.90 filled 217 days
MMM 94.58 filled 80 days
MMM 99.41 filled 17 days
AMZN 129.84 filled 35 days
ABNB 134.50 filled 13 days
SHOP 60.02 filled 12 days
DOCU 44.40 filled 192 days
HA 8.12 filled 64 days
RKT 10.44 filled 11 days
QCOM 111.28 filled 63 days
AAPL 175.77 filled 56 days
DIS 87.12 filled 102 days
TWLO 45.44 filled 93 days
RNG 26.79 filled 5 days
SQ 55.10 Filled 130 days
ABNB 104.68 filled 74 days.
TWLO 56.57 filled 61 days
PYPL 71.26 Filled 48 days
RNG 29.51 filled 88 days
APPL 146.61 filled 16 days
GOOGL all 3 filled 31 days
SHOP Filled 24 days
ZM 69.36 filled 25 days

AAPL 167.04, 158.49, 146.71


ABNB 116.33


AMZN 106.79, 86.40


DOCU 40.64


GOOGL 123.14, 120.99, 117.71, 112.94


PINS 17.55, 20.26


PLTR 10.28 7.85, 7.55


QCOM 104.11


RIG 6.42, 6.18


RKT 7.79


SBUX 85.47, 78.37


SHOP 47.97


TSLA 217.58, 162.95 146.41, 133.51, 122.36, 114.39


UPST 14.13

Fall CP/RBL

AMZN 127.34

GOOGL128.45

SHOP 53.86

TWLO 64.77

ROKU 83.26

UPST 61.56

RNG 38.88

AMZN

CPPS at 127.02

200 day curr. at 112.62

Open Gap @ 106.79 (tgt gtc)

Thanks Tom!

I look forward to it!

I always appreciate your feedback!

KTOS

9/26/23

14.38

Kratos Def & Sec Sol(Nyse: KTOS)

SEC, nasdaq, ShortSqueeze

Finviz, StockTA, Stoxline,

CAE

9/26/23

23.50

C A E Inc. (Nyse: CAE)

SEC, nasdaq, ShortSqueeze

Finviz, StockTA, Stoxline,

What's your opinion on the statistic's in this piece? It was written a month ago on Aug 22 when the pps was 1.52 at close.

On 9/25 Mesa closed at .88, a 42% drop since written, and now sits below a dollar- day one below a dollar )

Mesa Air Group: Unattractive Or Speculative Buy?
Aug. 22, 2023 1:45 PM ETMesa Air Group, Inc. (MESA)AAL, UAL7 Comments


Dhierin Bechai
Investing Group Leader
https://seekingalpha.com/article/4630320-mesa-air-group-unattractive-or-speculative-buy

Summary
Mesa Air Group has experienced a significant decline in stock value due to continued pilot shortages and a transition period.
The company is still losing money despite transitioning to a profitable agreement with United Airlines.
Mesa Air Group is focused on reducing debt and improving liquidity through the sale of aircraft and engines.

In a previous report, I said that Mesa Air Group (NASDAQ:MESA) remained infused with risk, and it was not a buy due to an uncertain ramp up trajectory in the flights for United Airlines. Perhaps that was an understatement because the stock lost almost a third of its value since then. In this report, I will be revisiting the rating for Mesa Air Group and put a price target on the name.

A Turn Around Year For Mesa Air Group

I could spend various paragraphs discussing the most recent results, but right now the reality for Mesa is that despite transitioning from a loss-making capacity purchase agreement with American Airlines (AAL) to a profitable one for United Airlines (UAL), the business was still losing money.

Total contract revenues decreased by 20.6% on a 28.6% decrease in block hours. So, the contract revenue per block hour did improve by around 11% excluding pass through revenues, which in some way shows the better revenue structure for the flight activity for United Airlines. The operating expenses increased by 15.5% or $20.737 million, but this was driven by $30.5 million in asset impairments. Excluding the asset impairment and gains on sale, the operating income would have dropped from a $213,000 profit to a $16.5 million loss, mostly reflecting lower contract revenues.

So, while initially the transition from flying for American Airlines to United Airlines was presented as swapping loss-making block hours for profitable ones, the reality is that due to the ramp up and a somewhat conservative scheduling from United, the business has become even more loss making. That is also driven by the continued pilot shortage. Perhaps the positive is that Mesa needs another 150 pilots to allow the company to get to the targeted utilization, which will generate margins of 7 to 10 percent, which the company expects to achieve in fiscal year 2024.

Mesa’s Focus On Debt And Liquidity

As Mesa transitions the business and improves utilization, the company has to rightsize in more than one aspect. Currently, the company has a surplus of 36 airplanes and has associated debts on the books. So, the key right now is to sell those assets, take out the associated debt and improve liquidity. The company has $48.3 million in cash and burns $13.8 million in operations quarterly. So, while the company won’t run out of cash imminently, it has to do something to keep liquidity at acceptable levels to run the business because the company also has $24 million maturing this year and $122.2 million maturing in the next fiscal year. So, the position is far from comfortable with $577.5 million in gross debt.

The company intends to sell aircraft and engines to improve liquidity and efficiency and reduce debt:

14 CRJ-900s will be sold, saving the company $3 million per quarter.
15 CRJ-900s are currently subject to negotiations, which will yield $2 million in savings per quarter.
Seven CRJ-900s are not subject of negotiations, but could result in $2 million in savings per quarter.
The sale of 12 engines held for sale will also result in $2 million in cost savings.
Overall, shaving excess capacity would result in $15 million in savings, but that is not the most important element, in my view, as these quarterly savings are largely non-cash. The important part is the debt reduction associated with the sales. The 14 CRJ-900s will reduce debt by $74.3 million and provide $18 million in cash. The debt reduction will be around 13% of the outstanding debt, while the cash would cover a quarter of the operational cash burn. We don’t know what the other 22 airplanes will do to the debt profile once sold, but scaling it to the 14 sold jets, it would mean $116.7 million in debt reduction and $28.3 million in cash. If we scale that to the quarterly savings, the numbers would be closer to $77.8 million and $18.9 million.

Is MESA Stock A Buy?

Mesa doesn’t quite sound attractive. The business has $48.3 million in cash, $13.8 million in operating cash burn and expected normalization of efficiency in FY2024. Apart from that, the company has $23.9 million in maturities in FY2023 and $122.2 million next year and one can really wonder where the money will be coming from since there is a negative cash flow and only $90 million in assets held for sale.

With FY2023 earnings in mind, Mesa Air Group stock without a doubt is a sell, but 2024 provides some upside with potentially even more upside in 2025. It should, however, be pointed out that the business needs to significantly increase its cash generation in the years to come. As it stands, by 2025, the company could actually be short of cash. However, it is not certain whether this will be the case as the company will be selling off assets, which could take out some principal maturities that are currently scheduled for 2025. Nevertheless, the Mesa Air Group stock does not seem attractive to buy at all.

Conclusion: Mesa Air Group Remains A High Risk Name

The only reason why one would or could consider buying Mesa Air Group is the upside it offers in the 2024-2025 timeframe and in that case buying the stock would be speculative. Just looking at this year’s expectations, the stock would be a sell, but we should point out that 2023 is a transition year and that transition will continue in 2024. Keeping the potential upside in mind as well as the challenges for the business, I would consider Mesa a hold for people looking to recover some of their losses.

Mesa Air Group: Unattractive Or Speculative Buy?
Aug. 22, 2023 1:45 PM ETMesa Air Group, Inc. (MESA)AAL, UAL7 Comments

NTS: (Aug 22 pps was 1.52 at close CPPS on 9/25 close was .88 a 42% drop since written)

Dhierin Bechai
Investing Group Leader
https://seekingalpha.com/article/4630320-mesa-air-group-unattractive-or-speculative-buy

Summary
Mesa Air Group has experienced a significant decline in stock value due to continued pilot shortages and a transition period.
The company is still losing money despite transitioning to a profitable agreement with United Airlines.
Mesa Air Group is focused on reducing debt and improving liquidity through the sale of aircraft and engines.

In a previous report, I said that Mesa Air Group (NASDAQ:MESA) remained infused with risk, and it was not a buy due to an uncertain ramp up trajectory in the flights for United Airlines. Perhaps that was an understatement because the stock lost almost a third of its value since then. In this report, I will be revisiting the rating for Mesa Air Group and put a price target on the name.

A Turn Around Year For Mesa Air Group

I could spend various paragraphs discussing the most recent results, but right now the reality for Mesa is that despite transitioning from a loss-making capacity purchase agreement with American Airlines (AAL) to a profitable one for United Airlines (UAL), the business was still losing money.

Total contract revenues decreased by 20.6% on a 28.6% decrease in block hours. So, the contract revenue per block hour did improve by around 11% excluding pass through revenues, which in some way shows the better revenue structure for the flight activity for United Airlines. The operating expenses increased by 15.5% or $20.737 million, but this was driven by $30.5 million in asset impairments. Excluding the asset impairment and gains on sale, the operating income would have dropped from a $213,000 profit to a $16.5 million loss, mostly reflecting lower contract revenues.

So, while initially the transition from flying for American Airlines to United Airlines was presented as swapping loss-making block hours for profitable ones, the reality is that due to the ramp up and a somewhat conservative scheduling from United, the business has become even more loss making. That is also driven by the continued pilot shortage. Perhaps the positive is that Mesa needs another 150 pilots to allow the company to get to the targeted utilization, which will generate margins of 7 to 10 percent, which the company expects to achieve in fiscal year 2024.

Mesa’s Focus On Debt And Liquidity

As Mesa transitions the business and improves utilization, the company has to rightsize in more than one aspect. Currently, the company has a surplus of 36 airplanes and has associated debts on the books. So, the key right now is to sell those assets, take out the associated debt and improve liquidity. The company has $48.3 million in cash and burns $13.8 million in operations quarterly. So, while the company won’t run out of cash imminently, it has to do something to keep liquidity at acceptable levels to run the business because the company also has $24 million maturing this year and $122.2 million maturing in the next fiscal year. So, the position is far from comfortable with $577.5 million in gross debt.

The company intends to sell aircraft and engines to improve liquidity and efficiency and reduce debt:

14 CRJ-900s will be sold, saving the company $3 million per quarter.
15 CRJ-900s are currently subject to negotiations, which will yield $2 million in savings per quarter.
Seven CRJ-900s are not subject of negotiations, but could result in $2 million in savings per quarter.
The sale of 12 engines held for sale will also result in $2 million in cost savings.
Overall, shaving excess capacity would result in $15 million in savings, but that is not the most important element, in my view, as these quarterly savings are largely non-cash. The important part is the debt reduction associated with the sales. The 14 CRJ-900s will reduce debt by $74.3 million and provide $18 million in cash. The debt reduction will be around 13% of the outstanding debt, while the cash would cover a quarter of the operational cash burn. We don’t know what the other 22 airplanes will do to the debt profile once sold, but scaling it to the 14 sold jets, it would mean $116.7 million in debt reduction and $28.3 million in cash. If we scale that to the quarterly savings, the numbers would be closer to $77.8 million and $18.9 million.

Is MESA Stock A Buy?

Mesa doesn’t quite sound attractive. The business has $48.3 million in cash, $13.8 million in operating cash burn and expected normalization of efficiency in FY2024. Apart from that, the company has $23.9 million in maturities in FY2023 and $122.2 million next year and one can really wonder where the money will be coming from since there is a negative cash flow and only $90 million in assets held for sale.

With FY2023 earnings in mind, Mesa Air Group stock without a doubt is a sell, but 2024 provides some upside with potentially even more upside in 2025. It should, however, be pointed out that the business needs to significantly increase its cash generation in the years to come. As it stands, by 2025, the company could actually be short of cash. However, it is not certain whether this will be the case as the company will be selling off assets, which could take out some principal maturities that are currently scheduled for 2025. Nevertheless, the Mesa Air Group stock does not seem attractive to buy at all.

Conclusion: Mesa Air Group Remains A High Risk Name

The only reason why one would or could consider buying Mesa Air Group is the upside it offers in the 2024-2025 timeframe and in that case buying the stock would be speculative. Just looking at this year’s expectations, the stock would be a sell, but we should point out that 2023 is a transition year and that transition will continue in 2024. Keeping the potential upside in mind as well as the challenges for the business, I would consider Mesa a hold for people looking to recover some of their losses.

RIG cpps @ 8.36 9/25/23

200 day at 6.68
Gap at 6.20





9/25/23 plan if tgt tagged

 CP: 10, 5, 4, 7, .5, 2 // 9, 5.5, 0, 2.5, 2.5, 2.5, 1.5 
 BB:  5, 5, 6, 3, .5, 3 // 6, 4.5, 0, 7.5, 7.5, 7.5, 1 
 H:   1.37, 2.86, 3.17, 3.54,  3.61,  .90 // 3.51,  3.30, 2.85, .97, .97, 3.75  
 L:   1.00,  .97,  .97,  .97,  3.53,  .90 //  .97,  2.88, 2.85, .97, .97, 3.55

AMC
1/10 RS on 8/24/23
cpps at $7.99 (.79 equiv)

Split adjusted chart





Actual numbers (prior to split adjustment) were:
Starting the year 2021 at 2 a share, AMC stock skyrocketed 36-fold to an all-time high of 72.62 on June 2 that same year.

NTS: 779,479.45 (2020,2021,2022)
b ranges 2,4,5,8 / s ranges 9,13,17,19,31,41,46,53,66

Is AMC Stock A Buy Or Sell Now? Here's What Fundamentals, Chart Action, Fund Ownership Metrics Say

DAVID SAITO-CHUNG03:01 PM ET 09/22/2023

https://www.investors.com/research/amc-entertainment-stock-buy-now/?src=A00220

Going to the movies is fun and exciting again. But can it match the truly mind-bending action of AMC Entertainment (AMC)?

Starting the year 2021 at 2 a share, AMC stock skyrocketed 36-fold to an all-time high of 72.62 on June 2 that same year. That price is unadjusted for Thursday's 1-for-10 reverse stock split. Then came 2022, a brutal year for meme stocks.

AMC stock started that year at 27.20 (before the reverse split) and ended at 4.07 , a miserable loss of 85%.

In recent weeks, AMC shareholders had reason to look forward to another rebound in 2023, at least in the short term. However, some key changes in the capitalization of the stock have led to a massive decline over the past month and a half.

AMC Stock Today: Is It A Buy Now?

For growth investors, it's important to understand how well a stock can perform vs. a key benchmark. As for AMC stock, IBD's relative strength line, which graphs a stock or ETF's day-to-day performance vs. the S&P 500, has plunged since Aug. 14. This means AMC is still underperforming the S&P 500.

AMC recently saw its market value plummet to just under $1.3 billion, squarely in small-cap land, according to MarketSmith.

So, is AMC stock a buy now? Or is it a sell?

This story examines fundamental, technical and fund ownership factors to determine if the Leawood, Kan., company with 950 theaters and 10,500 screens scores a good probability of making money for stock traders.

During premarket trading on Aug. 31, AMC stock rose more than 6% after the company announced it will begin showing "Taylor Swift: Eras Tour" four times each day from Thursday through Sunday at all of its locations. The movie will launch on Oct. 13. Ticket prices will range from $19.89 for adults plus tax, and $13.13 for children and seniors.

"In anticipation of the first day of advance ticket demands, AMC has bolstered its ticket server capacity to handle traffic at more than 5 times the current record for the most ever tickets sold in an hour," AMC said in a news release. On Sept. 1, the company reported that pop music icon Taylor Swift's concert film shattered records for single-day ticket sales revenue at $26 million.

An hour and a half into the regular session on Aug. 31, AMC shares zoomed as much as 9% higher, hitting an early session high of 13.90, before pulling back to a minor gain. Volume intensified, running at a pace of more than 800% above the stock's average turnover over the past 50 sessions.

Share Offering News Crushes AMC Stock

However, the stock still cratered more than 71% in August. It marks the worst drop in a single month for AMC stock, deeper than even the 49.5% drubbing it took during the month ended March 2020. Plus, AMC shares continue to plunge this month.

Over a two-day period on Sept. 6-7, the stock fell a combined 43% after the company announced a plan via a filing to the Securities & Exchange Commission to sell up to 40 million in additional common shares.

Volume skyrocketed to 84.9 million shares during the Sept. 6 sell-off — a clear sign that institutions unloaded shares. Turnover jumped to the highest amount so far this year and almost eight times the stock's average turnover over the past 50 sessions.

Ahead of the recent offering, the company showed 158.4 million shares outstanding. A new share offering certainly dilutes the stock. On Sept. 14, shares broke a three-day winning streak on news that the company completed the offering sale at an average price of $8.14 per share. That raised $326 million.

Yet after trading near 7.77, AMC stock still lies nearly 78% below its Jan. 1 start at 35.91, including the reverse split.

At the end of Q2, AMC held $435 million in cash and equivalents, $23 million in restricted cash, and assets of $8.67 billion.

AMC Stock Today: APEs Conversion Whacks Shares

Since then, AMC's drama in the stock market today has continued.

On Aug. 14, the stock cratered more than 35% to 29.91 on news the Delaware Chancery Court approved the company's revised plan to convert its preferred equity units, nicknamed "APEs." AMC CEO Adam Aron described it as a "terrific relief," MarketWatch reported. But shares likely plunged on the dilution effect that the conversion brings.

The company on Aug. 18 issued a new 8-K filing to the SEC with details on the conversion of the APEs. The conversion resulted in the trading of a single class of AMC shares and the completed 1-for-10 reverse split of common shares. Plus, the APEs ceased trading on Friday and converted into common shares.

Barron's reported that it's possible for warrants could also get converted into common shares. That would boost the total share count overall.

On Aug. 24, trading in AMC stock reflected the 1-for-10 reverse stock split. That is, a holder of 10 shares of AMC now owns just one share, but the share price got multiplied by 10. The action, for now, has not stopped recent bleeding in shares.

According to newly updated data on a MarketSmith chart, the stock now holds a revised float of 156.8 million freely traded shares and 158.4 million shares outstanding. However, these numbers may very well rise. In an Aug. 24 SEC filing, AMC Entertainment said it would register 6.9 million shares to settle stockholder litigation as noted later in this story.

Volatility Rising

The latest slide marked the stock's lowest closing prices since late January of 2021, when the bubble-like buying rush of meme stocks began. From its mid-July peak of 54.97, AMC stock has fallen more than 85%.

The current year initially saw a much better start for AMC. But after more than doubling from its year-end close during the first two months of 2023, shares slid hard after the company said March 14 that 87% of voting shareholders approved a plan to conduct the reverse split and the conversion of APEs into common stock.

On July 24, AMC stock jumped more than 35% and reached as high as 54.97, adjusted for the reverse split. Volume soared more than 11 times its average pace over the past 50 sessions. The stock also briefly ramped above its 200-day moving average, drawn in black on a MarketSmith chart, for the first time since February.

But AMC stock pulled back hard again. Shares also crashed below the 200-day line, a key long-term technical level.

Q2 Earnings Out

On Aug. 8, the company posted a net loss of a dime a share, down from a net loss of 90 cents in the year-ago quarter, based on revised figures following the 1-for-10 reverse split, according to MarketSmith. Sales rose 16% to $1.35 billion.

Meanwhile, adjusted EBITDA grew 71% to $182.5 million. Operating cash flow expanded by $63.2 million to a total $13.4 million; on a non-GAAP basis, it generated $99.8 million in operating cash. This helped boost the company's liquidity to $643.4 million, including $208.1 million of undrawn capacity under a revolving credit facility.

CEO Adam Aron, in a news release, noted that AMC theaters around the globe welcomed more than 66 million guests in the quarter, the highest level since Q4 of 2019.

"One area that has far exceeded pre-pandemic norms has been per-patron revenue," Aron said. The firm generated revenue of $7.36 per patron from food and beverages, "within a penny of our all-time high watermark. Considering the substantial operating margin of our food and beverage business, this is contributing meaningfully to our improving profitability," he added.

On Sept. 20, MarketWatch reported CEO Aron as saying the company is considering proposals to launch a branded craft beer named "Great Ape Ale" as well as branded premium gourmet chocolate and candy. Earlier this year, AMC began selling branded popcorn at 2,600 Walmart stores.

A Strong Start In The Third Quarter

The company highlighted that Q3 is "off to an explosive start" with big hits in the movies "Barbie," "Oppenheimer," "Mission Impossible: Dead Reckoning Part I," "Sound of Freedom," and others. July turned in the highest monthly revenue in the company's 103-year history.

Barron's reported earlier in August that B. Riley analyst Eric Wold estimates "box office revenues per screen for AMC recovered to 93% of 2Q19 levels vs. an industry recovery to 82% of 2Q19 levels." Wold rated the stock at neutral with a 4.50 price target.

Keep in mind that blockbuster movies or TV shows don't necessarily lead to an equally sizable windfall for the theater operators.

Robert Marich, author of "Marketing to Moviegoers," told IBD that "profit excess from ticket sales of blockbuster movies goes disproportionately to Hollywood distributors, because theater percentage of ticket revenue diminishes on a percentage basis."

Wall Street currently sees AMC posting a net loss of $2.51 a share this year and a net loss of $1.72 in 2024, down from an earlier estimate of -$1.82. In 2022, AMC posted a full-year adjusted net loss of $6.10 a share vs. a net loss of $11 in 2021.


AMC Sales Continue To Recover

In early May, the stock reported a net loss of $1.10 in the first quarter of 2023. A year ago, AMC suffered a net loss of $1.90 a share, according to revised numbers on MarketSmith. Revenue jumped 21% to $954.4 million. The company saw food and beverage spending per patron of $6.90 globally and $7.99 in the U.S.

CEO Adam Aron noted the first-quarter results as the strongest for a first quarter of the year in at least four years. "The recovery in the European box office easily surpassed 2022 by some 29%, totaling more than $1.7 billion," Aron noted.

He added "The Super Mario Brothers Movie" has helped the second quarter get off to a marvelous start with ticket sales surpassing $1 billion worldwide.

On May 4, AMC stock posted its highest close since March 7. At one point, the small cap's year-to-date gain reached 44%. But AMC stock let those gains slip away again. Notice too how it slumped below the 50-day moving average again.

The Preferred Units Puzzle

Earlier, in a filing issued on July 31 to the Securities and Exchange Commission, Aron made it abundantly clear that the company and shareholders would benefit from the conversion plan of APE preferred equity units.

"To protect AMC's shareholder value over the long term, we must be able to raise equity capital," Aron wrote in an open letter. That is especially the case now with the added uncertainty caused by the writers and actors strikes, which could delay the release of movies currently scheduled for 2024 and 2025."

"If we are unable to raise equity capital, the risk materially increases of AMC conceivably running out of cash in 2024 or 2025, or of AMC being unable to satisfactorily refinance and stretch out the maturity of some of our debt (which is required of us beginning as early as 2024)," Aron added.

In March, the company had received the green light from a shareholder vote to convert its APE units into common stock.

"If implemented, AMC should have an ability to raise a significant amount of equity capital in the months and years ahead. Winning these shareholder votes by such a lopsided margin is a powerful vote of confidence to allow AMC to raise equity capital, reduce debt, strengthen our balance sheet and continue our transformation," Aron said in a March 14 news release.


Will The Shorts Cover AMC Stock This Year?

Even though an epic short squeeze rally hit overdrive in January 2021, AMC stock still attracted short sellers during the summer of that year. Now, after a bruising decline since the spring of 2021, have the shorts let up?

Let's first revisit the hyper-fast run during the meme stock boom of 2021. Prior to the giant gain on June 2, 2021, over just five sessions of trade (May 24 to 28), AMC obliterated the short sellers by rising as much as 203%. In the week ended June 4, AMC stock almost finished up 100% or more for a second straight week. Incredible.

In January 2021, 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.

According to MarketSmith, short interest — shares sold short by individual and professional investors — has recently hit as high as 23.6 million shares, or 15% of the stock's float. Still a heavy amount.

Strong future profits could lead to increasing accumulation by large funds and other institutional investors. A powerful rebound could force short sellers to cover their positions, helping to propel shares even higher.

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, at some point may have to do a sudden about-face. They cover their short position by buying back shares.

The NYSE publishes data on short sale positions twice a month. Plus, the short coverage ratio can be skewed by dramatic changes in daily share turnover. The above data also does not consider any shares that may have been sold short in dark pools.


Key IBD Ratings

AMC's ratings in IBD Stock Checkup are showing bearish tints.

They include a much improved 60 Earnings Per Share Rating on a scale of 1 to 99, up sharply from 23 in recent months. Prior to the Q4 report, AMC's EPS score stood at 42.

A 20 Composite Rating on a scale of 1 (wizened) to 99 (wizardly) in recent days has actually rebounded some, yet it remains desperately low. It stands well below a score of 76 in February. When choosing growth stocks for the biggest potential gains based on the key elements of IBD's growth stock investing paradigm, 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.

During the first quarter of this year, AMC's movies industry group had ranked highly among IBD's 197 industry groups in terms of six-month price-weighted performance. The group has cooled off to 88th in recent days after rising to as high as 20th during the summer.

Check the daily price-weighted performance of all IBD industry groups, plus rankings based on six-month performance, at IBD Data Tables.

AMC Stock: Relative Strength Sinking Again

In August last year, AMC held a very respectable 96 Relative Strength Rating. This score means AMC stock had outperformed 96% of all stocks in the IBD database over the past 12 months. And the 3-month RS Rating at the time zoomed to a highest possible 99, according to MarketSmith data. These two ratings now stand at 1, the worst possible. Both scores have fluctuated tremendously in recent weeks.

The RS Rating runs from 1 to 99; for investors selecting top growth stocks, the higher the RS Rating, the better the stock in general.

Watch to see how the RS Rating changes in the coming week.

The Accumulation/Distribution Rating shows a weak D+ grade on a scale of A to E. This rating analyzes 13 weeks' worth of price-and-volume action. A grade of C+ or higher points to institutions, on net, accumulating shares.

Meanwhile, mutual funds owning a piece of AMC stock have dropped from 686 at the end of 2021 to as low as 293 as of the end of the second quarter this year, according to MarketSmith.


Stock Action In 2021 Vs. 2022

Back in May 2021, this story suggested watching how AMC stock handles potential upside resistance near 20. In fact, the action since that incredible week ended Jan. 29 molded a deep cup pattern. From that vantage point, AMC delivered a second breakout on May 27, surpassing a new 20.46 buy point with fury. (MarketSmith has a change-date function that makes it easy to look at historical charts.)

To get this ideal entry in a cup without handle, simply add 10 cents to the cup's left-side high — 20.36. On May 27, shares rifled past the 20.46 entry. For a while, AMC refused to look back. Still, with gains of as much as 501% in just two weeks, it made sense to lock in at least partial profits.

For a few days in August 2022, AMC tried to cross a nearly 12-month trendline that connects the September 2021 peak (32.43, adjusted for a stock split) with lower highs in November 2021 (28.23) and early April 2022 (21.09). For the very aggressive trader, this trendline breakout near 15 offered an uber-speculative entry. But the rally attempt fizzled fast.

As always, control your risk. Not all breakouts work, especially when the stock market uptrend goes under pressure or into a correction. 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, seek the wind at your back, not in your face.

AMC Stock In 2023: Is It A Buy Now? Or A Sell?

Amid the latest plunge, AMC sits 97% below its split-adjusted high of 393.65 set on June 2, 2021. So at the current price level, it does not yet trade at an IBD-style entry point.

However, next week the situation could change dramatically. Watch to see if a new bullish chart pattern will form. And AMC will definitely need weeks, if not months, to build the right side of that new base in bullish fashion.

An excellent set-up means the big boys and girls on Wall Street are more inclined to buy and hold shares, not dump them. Once a strong chart pattern has been established, an IBD-targeting breakout offers traders the best opportunity to reap gains at the start of a potential big run.

So at this point, AMC stock is not a buy. At some point, a cup base will form, but it's too early to tell.

Unfortunately, shares have dived below this year's earlier low of 33.27.

Shares need to do these four things now:

1. Rise above the 10-week moving average and stay above it for a significant time period. This hasn't happened yet in 2023 so far.

2. Overcome a large overhead supply of disgruntled holders ready to sell if the stock climbs back to around 35 to 45 a share. Also, the July near-term high of 54.97 may emerge as the left-side lip of a deep bottoming base.

3. Present price-and-volume action that signals heavy accumulation by fund managers, not distribution. On the bright side, AMC has not posted a sharp loss in heavy weekly volume since early April.

4. Rebound above its still-falling 40-week moving average, which has now sunk below 40.

One More Key

Finally, after you buy any stock with solid prospects, always heed the golden rule of investing. Keeping losses small keeps you in the investing game for the long haul.

Please follow Chung on Twitter: @saitochung and @IBD_DChung

Earnings START 9-22-23

NKE 9-28 A

NFLX 10-18 A

T 10-19 B

SBUX 11-2 A
________________________________________________________

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SHOP 47.97 Gap Track

LOLOLOLOL! That was great!

I can't believe I haven't seen that one before!

Hey Tom!

I wondered what you were up to!

Mesa is questionable. I'm hoping it survives. But It's a tough sector right now!

I recently harvested some losses in MESA so I'm still in a wash period on those sets but will be watching it once that period ends!

.





.

That's interesting.

KITT

9-21-23

1.99

Nauticus Robotics, Inc (Nasd: KITT)

SEC, nasdaq, ShortSqueeze

Finviz, StockTA, Stoxline,

HAHAHA! I know, right?

It's a very tight cult. Hard to convince them of anything as long as the shares are trading.

Have you ever read the reddit bbby board?

Yes. Several here will claim it's FUD, as they always do.

8K: https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000119312523238592/d521320d8k.htm

(Thanks 1manband)


Item 1.03.
Bankruptcy or Receivership.

As previously disclosed, on April 23, 2023 (the “Petition Date”), Bed Bath and Beyond Inc. (the “Company”) and certain of its direct and indirect subsidiaries (collectively, the “Company Parties”) filed voluntary petitions (the “Chapter 11 Cases”) under Chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”).

On September 14, 2023, the Bankruptcy Court entered its order (the “Confirmation Order”) confirming the Second Amended Joint Chapter 11 Plan of Bed Bath & Beyond Inc. and Its Debtor Affiliates (the “Plan”). A copy of the confirmed Plan is filed as Exhibit 2.1 to this Form 8-K and incorporated by reference into this Item 1.03.

Summary of Plan

This summary is qualified in its entirety by referenced to the Plan, and capitalized terms used but not defined in the following summary shall have the meanings ascribed to them in the Plan. The Plan, as confirmed by the Court, contemplates, among other things, an orderly wind-down and liquidation of the Company Parties’ businesses and the vesting of the assets of the Company Parties’ bankruptcy estates with the Wind-Down Debtors.

In the Company’s most recent monthly operating reports filed with the Bankruptcy Court on August 21, 2023, the Company reported aggregated total assets of approximately $42.4 million and total liabilities of approximately $1,503.6 million as of July 31, 2023. This financial information has not been audited or reviewed by the Company’s independent registered public accounting firm and may be subject to future reconciliation or adjustments. This information should not be viewed as indicative of future results.

The Company has no preferred shares issued or outstanding and has 782,005,210 shares of common stock issued and outstanding as of July 20, 2023. On the effective date of the Plan, all of these shares will be canceled, released, and extinguished and will be of no further force or effect pursuant to the Plan.

The Company anticipates that the Plan will become effective on or about September 30, 2023.

Hawaiian Airlines sees advantage in Amazon pivot to Airbus freighter

Eric Kulisch
Mon, September 18, 2023 at 5:00 AM MDT·7 min read
https://finance.yahoo.com/news/hawaiian-airlines-sees-advantage-amazon-110000219.html

WASHINGTON — The introduction of Airbus A330 freighters in Amazon’s air logistics operation opens the door for Hawaiian Airlines to capture more business from the retail giant if it proves a reliable partner under a new arrangement to fly parcels that starts next month, the company’s chief executive said.

Hawaiian Airlines (NASDAQ: HA) received its first A330-300 freighter in July and is ready to begin flights for Amazon Air in October while air and maintenance crews finish familiarizing themselves with the aircraft and airport ground procedures for cargo. The Honolulu-based carrier will eventually operate 10 package freighters on Amazon’s behalf under a 10-year contract struck last fall.

Amazon (NASDAQ: AMZN) appears to have identified the A330, a midsize widebody aircraft, as the next platform for its air logistics activity. Older Boeing 767s it primarily deploys are starting to reach the end of their service life and passenger planes available to convert to a cargo configuration will soon be scarce.

Hawaiian CEO Peter Ingram told FreightWaves that presents an opportunity for the airline to grow its Amazon business, noting that Hawaiian faced a similar decision 13 years ago when it started taking A330-200s for its passenger fleet after having flown 767s up to that point.

“I think if you look at the Amazon fleet, you can speculate that they’re thinking about the A330-300 in their fleet as a combination of growth and also replacement of the 767s that they have been operating with various carriers throughout their network. We see the opportunity for growth. It’s going to be up to us to operate efficiently and well,” Ingram said in an interview last week on the sidelines of the U.S. Chamber of Commerce’s Global Aerospace Summit here.

“We’re very on-time focused in our passenger business and I know Amazon is very on- time focused in their business. So the best way we can put ourselves in a position for growth in the future is by operating well, with a high completion factor and with great on-time performance. That’s something our team has been familiar with on the passenger side and we intend to do the same on the freighter side,” Ingram said.

Amazon has informed Hawaiian Airlines what routes the first two planes will fly, but Ingram declined to disclose them.

A search of flight activity on Flightradar24 shows the first A330 freighter conducting short practice flights at San Bernardino Airport in California, where Amazon has its West Coast regional air hub, in the first week of September. On Tuesday, the plane arrived at Cincinnati/Northern Kentucky International Airport (CVG), where Amazon’s national superhub is located and where Hawaiian Airlines has established its pilot base.

Whether San Bernardino becomes the first destination for the A330 is unclear. The airport may simply have been a convenient station for pilot training that has fueling contracts in place. A trunk route between CVG and a key secondary hub like San Bernardino, however, is a logical choice for a large cargo jet like the A330. Amazon media representatives did not respond to questions about plans for the new cargo jet.

Hawaiian will operate the A330 cargo jets in Amazon’s air network around the U.S. mainland, helping to expedite delivery of online orders, but would be open to discussing the possibility of flying trans-Pacific or other international routes to deliver imported goods if Amazon had such a need, Ingram said.

New kid on the block
Amazon has two incumbent air partners that operate 767s on its behalf. Air Transport Services Group (NASDAQ: ATSG), which leases cargo aircraft and also flies them for customers that need that service, operates 47 Boeing 767s for Amazon. Atlas Air has 18 767s in the Amazon system.

Amazon this year returned to ATSG five 767-200s that are older and had reached the end of their lease term. The Amazon fleet outsourced to ATSG mostly consists of larger 767-300s. Amazon officials have said the 10 Airbus A330s being placed with Hawaiian are to replace 767-200s, not for growth.

Ingram said Amazon approached Hawaiian to bid for the transport service contract after it decided to invest in the A330 fleet because of the airline’s experience operating the A330 for passengers.

ATSG Chief Executive Rich Corrado said Hawaiian from the beginning had the inside track for the job.

Amazon “tends to select carriers that already have the aircraft on certificate. It takes an airline about 10 months to a year to put an aircraft on certificate [with the Federal Aviation Administration] and it also costs a lot of money, somewhere between $6 million and $8 million, to do that type of work. So that puts us at a disadvantage in bidding where we didn’t have it [the A330] on certificate,” Corrado said on the company’s third-quarter 2022 earnings call with analysts.

Mike Berger, ATSG’s chief strategy officer and then-chief commercial officer, didn’t rule out ATSG becoming an A330 operator in the future. The company two years ago made a strategic decision to diversify its leasing program by investing in used A330 passenger jets and paying to have them overhauled to carry large pallets. It has secured the right to convert 29 of the medium widebodies with Airbus affiliate Elbe Flugzeugwerke (EFW). It already has 20 commitments from international customers. The first one is scheduled to arrive at the production facility in October.

“We see Amazon historically look for multiple providers of aircraft as they develop their network so we stand ready to support Amazon as our largest customer and shareholder in the future. The Amazon decision really does validate … that the 330 is the next aircraft that we want to get ourselves into” as 767 feedstock becomes more difficult to find, Berger said.

Amazon is leasing the Airbus jets from Seattle-based Altavair, which is also sending the post-passenger planes to EFW for ruggedizing the cabin interior and installing a large cargo door. Ingram said Hawaiian will receive the second A330 in December and that it will enter service early next year. The airline will have nine freighters by the end of 2024, with the 10th one following in early 2025. The initial converted freighter is less than 5 years old and never entered service with original customer Hong Kong Airlines.

The Amazon deal, which includes an option for the retailer to eventually acquire a minority stake, represents the first time Hawaiian Airlines has ever operated dedicated cargo jets. It is in the final stage of implementing a detailed project plan for launching what is essentially a startup airline within an airline.

Preparation includes hiring about 160 pilots for the freighter operations, training them and establishing work rules that differ from those for A330 passenger aircraft. Pilots will also be based on the mainland, instead of Hawaii. Ingram said the airline will probably carry out line maintenance in several locations based on the flight schedule Amazon determines.

In April, Hawaiian completed the transition of A330 maintenance from Delta TechOps to its own personnel. It operates 24 A330-200 passenger jets. Executives said that self-managing maintenance will allow it to exercise greater control over day-to-day operations and save money, especially as the A330 freighters are introduced into the fleet and lower per-unit costs.

Meanwhile, Hawaiian Airlines expects to receive its first Boeing 787 passenger jets early next year, some of which will replace early model A330s. Ingram said the planes, which are slightly larger than the A330, will provide more space for cargo.