AMC Entertainment Holdings Inc (AMC)

[Meowza]

rather he claims it's all derivatives

Aren't many short positions executed explicitly as derivatives? Also illegal naked short sales have characteristics of margin trading (share recall), leverage (rehypothecation), and futures contracts (covering) all in one transaction, and are highly derivative.

Not gonna opine whether AA is "pure" enough of an ape, but his statement is nonetheless rather loaded.