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And back to zero shares available...again. Things are about to get interesting imo.
Isn't that what's so nefarious in this? Remember when people were asking, "where are they finding all these shares to short with" and suppressing larger runs? Their short share "locates" weren't in the existing share pool(s), which was dried up, they were outside the pool in the bond instead.
Now that the bond was withdrawn by AMC, any issuances (not by the company, but by HFs against the bond) needs to be reconciled if I have this right. Remember, the convertible bond that the S-3 removed covered just under 35M (34,285,680) shares. AMC stated, "The Registrant confirms that no securities have been issued or sold under the Registration Statement." But the HF that holds the bond can't say the same, can they? So they (the bond owners) have to hand back an intact reconciled bond or they remove the shares issued to market worth (bond was at approx $17pps of debt, so current prices would equal ouch!).
Someone smarter than me can answer this question I still have though: If the public owns 80-90% of float and 35M shares of "bond shares" are removed from play, what does the percentage of public-owned float move to?
Please correct as needed. TIA
Hopefully it cleared up by now for you...?
I didn't see any specific outages listed for TDA lately, but it could've just been a server restart and timing.
Who knows, maybe they needed to add the ability to contain several more digits in the total account value fields for AMC holders in anticipation of the coming week... millions just wasn't going to cut it for the upcoming week(s). :-P
Agreed.
AMC is flying on it's own power now anyway. It didn't need to move out of Russel 2000 to make cap and it isn't required for moving forward.
GME did, AMC did not. The cutoff date they used was 7 May, before AMC market cap dominated.
Just leaving this here...
"The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 271.74% during the next 3 months and, with a 90% probability hold a price between $125.57 and $289.66 at the end of this 3-month period."
https://stockinvest.us/stock/AMC
Ortex short interest corrected overnight to 18.56%. Wow!
I'm surprised at how high it is in comparison to the Jan pop.
Thanks for posting the interesting read.
Had to laugh at, "If you look at the way Bear Stearns imploded...it didn’t go down in a couple of months, it went down in a week. And if you look at what happened, it’s clients, which were hedge funds - these are the people that...trade with the firm. They precipitously started pulling cash while - while they were going short...”
Which would be the equivalent of Citadel investors pulling out their money while the firm is short. Talk about a house of cards...
Matt Kohrs just announced Ortex updating the Short Interest numbers from the 15th and it's jumping approx 4% higher to 18%. Looks like the system is slowly adapting to more transparent and faster reporting at least...
Ortex data shows short interest up today. They are plain up adding to short positions imo and the algorithm must enjoy increasing the continuous bleed... Oh well, all the more power on the rise then for longs.
Still holding for the main event. Going to go enjoy the weather, alerts will let me know if we liftoff. Have fun!
SR-NSCC-2021-002 posted on Fed Register 0615EST 6/24/2021. No more quibbling about legal or in force anymore.
https://www.federalregister.gov/documents/2021/06/24/2021-13413/self-regulatory-organizations-national-securities-clearing-corporation-notice-of-filing-of-partial
Nails it. Best summary description of the situation I've heard yet.
Hmmm, I doubt we can really draw that connection between GME and AMC for the "follow the leader" theory during one-off special events that affect one and not the other though... GME just finished their at-the-market share offering which is bound to pop the stock upon completion. By all rights, AMC should not have a pop because there is no correlation with a share offering of another stock.
Or am I understanding your concern wrong?
Yes, "enough" are in place to start blocking and removing bad actors now. Note-002 is moving from pending to passed since this last update.
https://www.reddit.com/r/Superstonk/comments/o1vquv/tldr_regulations_edition_updated_20210617_to/
All the more reason for the investing People (big P) and the SEC to hold Wall Street HFs/MMs accountable. Time to unwind and dissolve some bad actors then...we got the rules in place, might as well use them. They can ignore all finance rules from their prison cell.
imo.
"The proposed rule change was published for comment in the Federal Register on March 24, 2021"
Agreed! 005 will be the cherry on top.
Goes into effect tomorrow, it "just" posted. Looks like a last hurrah today before being crushed...
002 approved under "Accelerated Approval"
https://www.sec.gov/rules/sro/nscc/2021/34-92213.pdf
V.ACCELERATED APPROVAL OF THE PROPOSED RULE CHANGE, AS MODIFIED BY PARTIAL AMENDMENT NO. 1The Commission finds good cause, pursuant to Section 19(b)(2) of the Act,64to approve the proposed rule change prior to the 30thday after the date of publication of Partial Amendment No. 1 in the Federal Register. As discussed in Section II.D above, in Partial Amendment No. 1, NSCC amends its Form 19b-4, Item 3(a) disclosure to provide additional description ofthe purpose of theProposed Rule Change, and Partial Amendment No. 1 does change the substance of the proposal, the proposed text of the Rules that was provided as Exhibit 5 to the Proposed Rule Change,the manner in which the Proposed Rule Change will operate, or the manner in which the Proposed Rule Change will affect its Members or other interested persons. Furthermore,as discussed in Section III.A above,the Commission believes that the Proposed Rule Change, as modified by Partial Amendment No. 1, should help NSCC ensure it can complete settlement for all its Members in the event one Member defaults, which the Commission believes should promote the prompt and accurate clearance and settlement of securities transactions, consistent withSection 17A(b)(3)(F).65Therefore, the Commission believes the nature of the changes in Partial Amendment No. 1 and NSCC’s intended enhancements to its daily liquidity risk management warrants accelerated approval of the Proposed Rule Change. Accordingly, the Commission finds 6415 U.S.C. 78s(b)(2).6515 U.S.C. 78q-1(b)(3)(F)
24good cause for approving the Proposed Rule Change, as modified by Partial Amendment No. 1, on an accelerated basis, pursuant to Section 19(b)(2) of the Act.66"
And listed here: https://www.sec.gov/rules/sro/nscc.htm#SR-NSCC-2021-002
Here's a good T+35 read to catch up on.
https://www.reddit.com/r/amcstock/comments/o21ejs/amc_ftds_will_spike_amc_price_21st_22nd_23rd_25th/
At the risk of piling even more good news and catalysts on top of our usual discussions of deltas, gammas, short covering, new rules, and so on; anyone else seeing this FTD+35 theory lining up perfectly for the next 2 weeks?
https://www.reddit.com/r/amcstock/comments/o21ejs/amc_ftds_will_spike_amc_price_21st_22nd_23rd_25th/
And when will it be profitable?
News! And the PPS yawns in response...
They must've heard you; news out this morning...
FYI-Good status summary all in one place for the new rules...
https://www.reddit.com/r/Superstonk/comments/o10x4m/tldr_regulations_edition_updated_20210616/
Agreed. Just want the "officialness" posting follow throughs to happen, just so that it's an airtight case and there's zero chance of technicalities used as arguments by those that are searching for loopholes.
Because we both know they're searching for something, anything, to help their horrible position.
If nothing else this whole GME/AMC/Ape effort has already changed the financial system landscape to be a more fair and level playing field for the future... as long as the enforcement happens. It's amazing all the rules that have been able to be brought to bear just in the past few months against decades-old manipulative tactics...(finally).
Posted today!
"The proposed rule change would become effective upon filing"
Shows on DTCC website, just waiting on Federal Register now.
https://www.dtcc.com/legal/sec-rule-filings
Ask the hedgefunds... (and let us know if they actually answer you)
My favorite parts…
“If you’re currently up more than 12, 15, 20% max, you’re already absolutely obliterating these (hedge) funds yearly goals.”
“I mean this is the equivalent of any NFL team playing any high school football team off the street and getting wiped out.”
Thanks for the link:
Hah! That's awesome. Better to double up on great information than to miss it I suppose!
Wow. Mainstream is being forced to acknowledge. "'Resist the temptation' to short AMC Entertainment, other meme stocks 'because these prices can go to unimaginable highs,'" say Interactive Brokers founder Thomas Peterffy ON CNBC SQUAWK BOX!
...or more.
In all my readings watching this unfold since Jan I haven't run across APES standing for anything; but APES=Average People Eviscerating Shorts seems to fit perfectly for all intents and purposes...
Well you have a loooooong wait ahead of you then. G'luck with that. Just my opinion.
"Short sellers covered 1.6% of their short position this week, and the share price went up 83%."
Hmm. So even if you remove the counterfeit shares from the equation, there's only 98.4% more covers to go, but what's that boost the share price boost to? LOL!
https://www.reddit.com/r/amcstock/comments/nsrziv/this_needs_to_be_seen/
Shorts whispered "You won't survive the storm."
Apes whispered back, "Idiot, we ARE the storm!"
Just look at GME mirror the spike also. Big shake and spike down to grab what they can before the stock gets taken off the leash. imo.
FUD doing their best to avoid and distract from other news today like, "Dusaniwsky said short sellers betting against AMC were down $2.77 billion on Wednesday alone..."
https://www.barrons.com/articles/amc-gamestop-meme-stock-51622680002?mod=hp_LEAD_2
Absolutely. Just a matter of when.
IMO.
And that was a good reminder why one should NOT use stop limits when investing in short squeezes.
IMO.