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Next domino falls... "Fitch Downgrades Kaisa to Restricted Default After Missing Payment"
ref: https://www.fitchratings.com/research/corporate-finance/fitch-downgrades-kaisa-to-restricted-default-after-missing-payment-09-12-2021
The default happened a while ago, but it's official now that Fitch has downgraded to "Restricted Default" rating. It seems they had to allow for time for the default, the grace period to elapse, and then sufficient time to respond to a query (48-72hrs?) before the declaration and ratings change.
Funny part is Evergrande stock (3333.hk) is showing UP 4.05% this morning. O.O! Hmmm.
Ref: cnn.com/2021/12/09/investing/evergrande-default-fitch-intl-hnk/index.html
IMO/NFA
Just binge watched all four parts to this series in the background. Real eye-opening info from 2008 and lessons (not) learned. Maybe someone else will find it as fascinating.
I can't wait to see the documentaries on GME/AMC.
Reminder- Bottom of the channel for the pennant is $37.71. It sure looks like it wants to go back to it too. If it breaks $41.72 it's off the the races.
<munches popcorn watching>
ref: finviz.com/quote.ashx?t=amc
IMO/NFA
IKR! I actually laughed out loud reading some of the comments over there.
What do you call Citadel investors? Bagholders.
Seems the shoe is on the other foot now. It'll be interesting how many attorney's are successful in pulling their clients funds out because the new terms aren't agreed to by the client.
Agreed! I just didn't expect them to trade the shovel and drive an excavator down into the hole. Most should have known to stop digging by now.
12/06/21 Update: Off-Exchange/DP: 63.37%
Hmm, random thought, I wonder at what percentage inflection point the SEC considers good/normal and what point it crosses over to unusual/excessively fraudulent?
I'm thinking they may have passed it a long time ago...but that's just an opinion. :-P
Yeah! How dare someone think this could go to a whole $1000?!? What a bunch of dreamers. It's not like in 2008 when the VW squeeze went to...oh wait. O.O!
/s
ROFL!
No, it can't be close already! I didn't get my $2 stock order fills yet! ROFL!
Yikes! Reddit is saying Citadel just lowered its limit on investors withdrawals from 10% per quarter to 6.25% per quarter?!? Huge red flag. It would take 4 YEARS to get your money back from them! Millennium went from 25% to 5%!
Looks like "IF or WHEN" they drive the company(ies) into the ground they are taking their investors with as hostages.
Oof!
Ref: www.reddit.com/r/amcstock/comments/rabut0/millennium_citadel_winning_the_war_to_keep_client/
Go ahead! Drop it to 3 times what I paid and see if I care. Won't matter if it drops to $1 even if no one is selling. LMAO!
I'd love to load up more at that price point and remove those shares from circulation!!!
I'm waiting...<taps foot>
All IMO/NFA.
Expect monster FUD campaign this week to try and pry any last shares out of the weak. They NEED your shares.
Evergrande just crashed to an all time low below $2 with their bankruptcy/default statement. Kasia and now Sunshine defaults also as dominos start to fall (Evergrande, Fantasia, Sinic, Kasia, Aoyuan, Sunshine now). Banks are going to want their money back so they'll be margin calling the SHFs to get liquidity back...(read 'close your positions now!')
AMC traded in 2015-2017 in the $30's when the fundamentals looked MUCH worse than they do now. On current path of revenue generation AMC is looking to go bottom line positive in 1-2 quarters. Nothing but positives for AMC moving forward now in both technical and fundamental projections.
Buckle up, this is going to get wild and rough as volatility ripples throughout global markets over next 3 weeks! I set price target alerts and will watch the game unfold from the armchair...maybe get some AMC popcorn to-go later today. mmmmm
If they want to take this even lower, let them bleed...I'll be adding.
All IMO/NFA.
And the turd stock goes "plop" once again...
Beautiful bounce and riding the support channel. Resistance level for breakout drops to $42.77. Price alert set.
Patience. Let them bleed...
IMO. Back to nap.
Fantasia Holdings halted and Evergrande down 8.8%+ awaiting DMSA bankruptcy petition filings now. Estimated $55T in play and at risk.
The investing central banks (that are looking at taking a big loss in China real estate) will be looking to deleverage; and securing their funds from SHFs shouldn't be far behind now...
Add in there's about 24 business days left in year...yeah, things are now over ripe.
Time to watch some AMC short positions get closed. IMO
"Sir, someone named Marge Incall or something like that is on line number 1." O.O!
NFA.
Refs:
www.reuters.com/markets/stocks/evergrande-shares-fall-after-chairman-cuts-stake-fantasia-suspends-trading-2021-11-29/
www.express.co.uk/finance/city/1527443/global-financial-crisis-china-evergrande-global-collapse-china-news/amp
If charts are believed, Finviz shows bottom of narrowing support channel at ~$38.98 in one helluva 6 month pennant (off the Jun flagpole) with an upside breakout due at any time; just whenever it's ready to exercise its' wings... watching for where this bounce happens for the time being.
Just a matter of when will it break the resistance, and will it even need a catalyst to do that...(might not)
NFA, just imo
HODL'ing for the long run.
https://finviz.com/quote.ashx?t=amc
LOL!
Funny ending.
Finviz shows channel support at $36.03. Watching for bounce and narrowing of channel...
Sep 2 notice was followed by the Nov 5 order. The proceedings had to start before the vote which would've been today. The comments and rebuttals still show they need to insert dates for publication...unfortunately.
With Evergrande defaulting, banks wanting their liquidity back, and clawing it back from overleveraged risk this rule probably won't make a bit of difference in initiating movement. It just needs to be in place at some time in the future to prevent repeats of current day overleverages.
FYI-They instituted proceedings back on the 5th of Nov. Awaiting the publication in the Fed Register for the 35 day window to start for a new comment period.
"The Commission is instituting proceedings to allow for additional analysis of, and input from commenters..."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166673469
I know right?!? My first thought too!
Followed quickly by I'm going to enjoy taking the kids to quench our thirst for more Pixar movies.
AMC partnership with Disney+ for surprise screenings news out!
ref: https://investor.amctheatres.com/newsroom/news-details/2021/AMC-Theatres-Presents-Disney-Surprise-Screenings-at-Select-AMC-Locations-November-12-14/default.aspx
FWIW, my take on that whole process (NSCC-2021-010) is not looking good for the 10 Nov 2021 date as being hard anymore...unfortunately.
If you pull up the SR-NSCC-2021-010 document flow (https://www.sec.gov/rules/sro/nscc.htm#SR-NSCC-2021-010) The 34-92860 2 Sep Notice established the 10 Nov 21 date, and at any time up to that date the commission could do one of 3 things: Approve, Disapprove, or Institute Proceedings.
We were charging straight towards the hard date default approval when on 5 Nov they chose option 3 with an Order. They waited until 5 Nov to file Order 34-93532 which "Institutes Proceedings" which buys them time for another round of comments and rebuttals (21 days and 35 days respectively). The kicker is the 35 days don't start until the new Order is published in the Federal Register and I didn't see anything newer than the Sep Notice...yet.
So we can't get a "new and improved" hard date yet until that publication happens.
That said, it doesn't change how screwed HF's are in the slightest; it just means the liquidation(s) won't be relying on this particular Rule in order to initiate it/them until Fed Reg publication plus 35 at the earliest...
Sorry news of a delay isn't better, I'm just trying to keep shining light on the truth...even if it isn't what we want to hear.
In TDA, close today showed 5,413,900 call shares (54139 contracts) in the money and awaiting exercise delivery. I wonder where they're going to find those on Monday... Hmm.
Orville Reddenbacher, Pop Secret, Act II, Newman's, SkinnyPop, Jolly Time, and Pop Weaver all just got put on notice that they'll be competing against the real thing theater popcorn from now on. I wouldn't be surprised to see a partnership or scoop up merger of one of those competitors to gain positioning in marketplace for the microwave IP/capabilities/manufacturing. I wonder if any of those are attractive to AMC... Hmmm. Just IMO, and thinking outloud.
News out!
"AMC Entertainment to Expand Its Business Beyond Theatrical Exhibition and Enter the Multi-Billion Dollar Popcorn Industry"
Company Release - 11/4/202
Ref= investor.amctheatres.com/newsroom/news-details/2021/AMC-Entertainment-to-Expand-Its-Business-Beyond-Theatrical-Exhibition-and-Enter-the-Multi-Billion-Dollar-Popcorn-Industry/default.aspx
The movie name that you're referring to (about network speed and how it translates to money) is probably "The Hummingbird Project". I just got done watching that last week.
And we have a fishing trip to search for shares with stop losses to start the week it seems...
In the latest example of people having kitchens and still going out to restaurants... seems that going to the theaters is still on the menu!
""Halloween Kills" may be available to watch at home, but the latest installment in the Michael Myers saga is making a killing at the North American box office in its first weekend in theaters. The David Gordon Green-directed horror scared up $50.4 million from 3,705 locations, according to studio estimates Sunday.
Universal’s "Halloween Kills" far surpassed expectations, which had the film pegged for a more conservative debut in the $30 million range. It also easily bested its main competition, which included the James Bond pic "No Time to Die," in its second weekend, and Ridley Scott’s medieval epic "The Last Duel." Both are playing exclusively in theaters."
ref: foxbusiness.com/entertainment/halloween-kills-tops-no-time-to-die-box-office
Foxnews Business posted "SEC opens inquiry into Wall Street banks' staff communications". So sounds like SEC is stepping enforcement up not just on Citadel but ensuring the electronic records and papertrail (ie. evidence) is preserved...maybe.
imo
Source: foxbusiness.com/markets/sec-opens-wall-street-banks-staff-communications-inquiry
Some (more) good news... "‘Eternals’ First-Day Advance Tickets Beating ‘Shang-Chi’ & ‘Black Widow’; AMC Sees Biggest Day 1 Presales Of Year"
https://deadline.com/2021/10/eternals-advance-ticket-sales-beating-shang-chi-black-widow-amc-1234855393/
Whooo! Look at that climb on low volume. Looking like she's ready to blow thru the ceiling soon... Golden cross and MACD curl up. She wants to go. imo
I saw alot of news about Merck and pills, even Ridgeback Biotherapeutics...but...not one mention of AEZS. Where's that at? Hmmm? Or was that just more pump and hype?
AMC exercised option to buydown debt about the same time as spike today according to timestamps on news. But...I *Just* got text notification of news story now though. And nobody mentioned/noticed debt release hours ago when it supposedly happened... Hmmm. Timing off somewhere?
https://investor.amctheatres.com/newsroom/news-details/2021/AMC-Entertainment-Holdings-Inc.-Exercises-Option-to-Repurchase-Some-of-its-First-Lien-Debt/default.aspx
Just saw this one...(FTD's just released?) AMC FTD's are 40,000 times Amazon's.
https://tremendous.blog/2021/09/30/amc-fails-to-deliver-are-40000-times-amazons-per-latest-data/
Really? When? Not in time to save this apparently.
This once was a $1 to $2 per share stock years ago. Sad to see what it's become...
G'luck all.
Applied 5 months ago...still applies today. Hmm, wonder what the price was then...?
I'm just killing time now... maybe I'll go fishing tomorrow... hmmm.
https://www.reddit.com/r/amcstock/comments/n1su8d/we_can_maintain_this_can_they/
anyone that bought this from $29 to $72 made $43 per share in profits, almost more than what AMC is trading at.
There, fixed it for ya. YW LOL!
Oh, and shorts had infinite risk per share, while buyers max risk was $29 per share. Just sayin'
People are learning to stop buying options and are just buying the shares and sitting on them instead.
Everyone got their rollercoaster safety restraint bar secured?
Between the Evergrande news this morning (another domino falls) and the US bank Trillion $ requirement going into effect 1 Oct, the next two weeks are going to get...bumpy and interesting. IMO
HODLing and watching the show with popcorn at the ready.