AMC Entertainment Holdings Inc (AMC)

[mgirardi]

From the article:

“So what does this mean for AMC and retail investors? It means that about twice the float in outstanding shares was converted into BDRs offshore. This means these shares no longer have to be covered by any institution who created them in the first place.

The DTCC Approved These BDRs

I did a little bit of research as to how this process even begins. Well come to find out, the issuance needs to go through a private custodial bank, such as Citi, then processed through the DTCC, and finally going through the custodians program to convert the underlying asset.

The DTCC approved converting more than 513 million [NYSE] AMC shares into 3.08 billion BDRs (foreign stock), essentially brushing these synthetic/extra shares under the rug from the U.S markets.”

If institutions can repackage shorts into foreign exchange traded BRDs, then how is AMC ever going to squeeze? What if all of the shorts are already converted to BDRs? Not trying to spread FUD but, we as a group need to stand up against this and fight the financial treason committed. This market is a complete fraud.