AMC Entertainment Holdings Inc (AMC)

[Prudent Capitalist]

Bingo! Adam Aaron has most definitely spoken and truthfully confirms the lack of any fake or synthetic shares. After multiple calls and share counts of late there are still just 516.8 Million AMC shares out there.

The move today (-9%) comes as AMC CEO Adam Aron appeared to throw some cold water on a favorite theory of the "AMC Apes" - the retail-oriented, long-position investors who believe that AMC stock is heavily shorted and is set to shoot higher in the "mother of all short squeezes."

Part of that theory is that there's an enormous hidden pool of fake or illegal shares being sold short by powerful interests, keeping the stock price down. (They take that view despite the official figures that the short percentage of AMC's float sits at 21.3% as of the end of May, according to Morningstar.)

"Inbound tweets ask over and over for a 'share count,'" Aron said in a tweet. "AMC has done a share count 6 times in the past year. We know of 516.8 million AMC shares. Some of you believe the count is much higher.

"As I’ve said before, we’ve seen no reliable info on so-called synthetic or fake shares," Aron continued.