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i had written off a small amount of shares I bought during the first meme explosion. Happy I held. Sold off a fraction to lock in some profit. Letting the rest ride.
I didn't know if there were smaller more focused groups, I can never tell if people in r/stocks and r/investing are serious or trolling
Yeah I feel that, but I haven’t found anything much better for general information (anyone has anything better lmk). A lot of smaller communities I find just have a lot of people trying to sell their bs get rich guides
I sold 50 shares of AMC when it was $9.89 and this is causing me unexpected serious depression, like, I haven't felt like this since my dad died, and it's just money!
I sold 50 shares of AMC when it was $9.89 and this is causing me unexpected serious depression, like, I haven't felt like this since my dad died, and it's just money!
These next three trading days could get a little wild and bumpy.
Why
For GME, $350 seems to be a tipping point. Example: In Jan when trading got halted and things crashed, it went to shit when GME got above. In the days that followed, they drove the price down to $40. In March, GME again tested $350, then tanked to $120. Now we tested $350 yesterday, it tanked to $280. Going into Wednesday we are already over $300.
For AMC, it’s LOW price for each of the last 12 days has been higher. AMC has consolidated nicely along the way and now strong in the mid-50s. (Remember it was $6/share in Feb). Similar to GME, somewhere above 75 (maybe 100) for AMC and it could run away as well.
Either one popping drags the other across the finish line it’s the same HFs going after both.
Last Edit: Jun 9, 2021 3:23:49 GMT -5 by ZIG - Back to Top
^^^Also, GME has their annual shareholder meeting Wednesday (6/9) after hours (first one with Ryan Cohen). Plus some of the theories about naked shorting, etc. have started to get a lot of validation based on the timing of price movements, etc.
^^^Also, GME has their annual shareholder meeting Wednesday (6/9) after hours (first one with Ryan Cohen). Plus some of the theories about naked shorting, etc. have started to get a lot of validation based on the timing of price movements, etc.
Does the Gamestop quarterly earnings report really matter? The current market cap has pretty much nothing to do with company performance.
^^^Also, GME has their annual shareholder meeting Wednesday (6/9) after hours (first one with Ryan Cohen). Plus some of the theories about naked shorting, etc. have started to get a lot of validation based on the timing of price movements, etc.
Does the Gamestop quarterly earnings report really matter? The current market cap has pretty much nothing to do with company performance.
Fundamentals don’t matter, especially market cap.
AMC and GME are in the same position. I’ll swing to AMC to provide why because we just new information today.
AMC’s CEO announced after market close today that AMC has 4.1 million retail investors with an average 120 shares each.
So Retail Investors own: 4.1M x 120 = 492M shares.
Piecing together from other data from Fidelity: The top 10 institutions own approximately 95M shares. The top 10 mutual funds own approximately 57M shares. So not even counting every mutual fund or institution, or even insiders like the ceo am that also own shares, so this is a low ballpark. And more importantly, this doesn’t factor in any shares that have been sold short.
492 + 95 + 57 = 644M shares.
Here’s the problem. The official share count as announced today is….
Just under 502M shares. 644 > 502… That should not be possible, legally. GME is in the same position (more shares than legally should be outstanding), so if you are short either stocks, good luck remaining solvent.
Does the Gamestop quarterly earnings report really matter? The current market cap has pretty much nothing to do with company performance.
Fundamentals don’t matter, especially market cap.
AMC and GME are in the same position. I’ll swing to AMC to provide why because we just new information today.
AMC’s CEO announced after market close today that AMC has 4.1 million retail investors with an average 120 shares each.
So Retail Investors own: 4.1M x 120 = 492M shares.
Piecing together from other data from Fidelity: The top 10 institutions own approximately 95M shares. The top 10 mutual funds own approximately 57M shares. So not even counting every mutual fund or institution, or even insiders like the ceo am that also own shares, so this is a low ballpark. And more importantly, this doesn’t factor in any shares that have been sold short.
492 + 95 + 57 = 644M shares.
Here’s the problem. The official share count as announced today is….
Just under 502M shares. 644 > 502… That should not be possible, legally. GME is in the same position (more shares than legally should be outstanding), so if you are short either stocks, good luck remaining solvent.
Yeah. That was my point. The current stock price(and by extension market cap) for GME isn’t being driven by company performance metrics that are reported in quarterly earnings reports. Also, kinda silly to say you don’t care about market cap.
AMC and GME are in the same position. I’ll swing to AMC to provide why because we just new information today.
AMC’s CEO announced after market close today that AMC has 4.1 million retail investors with an average 120 shares each.
So Retail Investors own: 4.1M x 120 = 492M shares.
Piecing together from other data from Fidelity: The top 10 institutions own approximately 95M shares. The top 10 mutual funds own approximately 57M shares. So not even counting every mutual fund or institution, or even insiders like the ceo am that also own shares, so this is a low ballpark. And more importantly, this doesn’t factor in any shares that have been sold short.
492 + 95 + 57 = 644M shares.
Here’s the problem. The official share count as announced today is….
Just under 502M shares. 644 > 502… That should not be possible, legally. GME is in the same position (more shares than legally should be outstanding), so if you are short either stocks, good luck remaining solvent.
Yeah. That was my point. The current stock price(and by extension market cap) for GME isn’t being driven by company performance metrics that are reported in quarterly earnings reports. Also, kinda silly to say you don’t care about market cap.
why is it silly? I’ve never made an investment in a stock based on market cap.
Market cap is strictly the share price x # shares outstanding. That’s it. IMO It has no real connection to company “fundamentals”. Look at Tesla. We’ve heard for years, it’s market cap is larger than all Insert Car Company so you’d be crazy to invest; Or it’s disconnected from its fundamentals. Yet market cap hasn’t mattered. And for many, It’s simply a dick measuring device.
As an example: Company A has 500 shares at $10 Company B has 50 shares at $300 If I believe both stocks are going to go to $1000, I don’t care that Company B has a market cap that is 3x larger than Company A.
If you want to talk fundamentals, then we can start boomer discussions on EPS, P/E, etc. For these two stocks, fundamentals don’t matter. Is it great news that GME and AMC both released positive fundamental news? absolutely. Does it ultimately matter? No. The voting information we received today confirmed that HFs have created fake shares and overshorted it. Retail owns the float for both and eventually will see a tasty price.
Is it great news that GME and AMC both released positive fundamental news? absolutely. Does it ultimately matter? No. The voting information we received today confirmed that HFs have created fake shares and overshorted it. Retail owns the float for both and eventually will see a tasty price.
i owned some GME back in Jan, but got out. what makes you so sure the hedge funds aren't going to weasel their way out?
GME +5000% in a year AMC +725% in a year
basically, I'm asking why you think it's going further up
Market cap is strictly the share price x # shares outstanding. That’s it. IMO It has no real connection to company “fundamentals”. Look at Tesla. We’ve heard for years, it’s market cap is larger than all Insert Car Company so you’d be crazy to invest; Or it’s disconnected from its fundamentals. Yet market cap hasn’t mattered. And for many, It’s simply a dick measuring device.
As an example: Company A has 500 shares at $10 Company B has 50 shares at $300 If I believe both stocks are going to go to $1000, I don’t care that Company B has a market cap that is 3x larger than Company A.
If you want to talk fundamentals, then we can start boomer discussions on EPS, P/E, etc. For these two stocks, fundamentals don’t matter. Is it great news that GME and AMC both released positive fundamental news? absolutely. Does it ultimately matter? No. The voting information we received today confirmed that HFs have created fake shares and overshorted it. Retail owns the float for both and eventually will see a tasty price.
sad. but youre probably right, the earnings a public company makes is meaningless now. the efficient market thesis has died
Is it great news that GME and AMC both released positive fundamental news? absolutely. Does it ultimately matter? No. The voting information we received today confirmed that HFs have created fake shares and overshorted it. Retail owns the float for both and eventually will see a tasty price.
i owned some GME back in Jan, but got out. what makes you so sure the hedge funds aren't going to weasel their way out?
GME +5000% in a year AMC +725% in a year
basically, I'm asking why you think it's going further up
The HFs haven’t just been shorting both stocks but they’ve been naked shorting them. Basically creating fake shares to drive the price lower and ultimately into bankruptcy. But because so many people have been buying and holding, more people have shares than what are legally supposed to be in existence. AMC has 500M shares outstanding. Just based on the announcement alone and piecing together other ownership data, it’s clear that there are more shares than allowed. So basically this isn’t just a short squeeze, when it eventually takes off, they have all the shorts + all the naked shorts to cover. And because those ownership numbers pretty much confirm the retail owners of both stocks own 100% of all shares outstanding, HFs are screwed.
I don’t have exact numbers, but in a normal short (Like VW in 2008) it goes something like this. Volkswagen / Insiders owns 45% 2 institutions own another 30% The other 25% are in mutual funds or retail. Shorts then short 15% of the stock. 25% covers 15% so shorts are safeish.
Now a company announces they’ve bought up 20% so now: VK / Insiders: 45% 3 Institutions: 50% Retail / MF: 5%
But those shorts still have 15% and only 5% to buy from. meaning 🚀🚀.
Now in our scenario (numbers aren’t actual just similar idea to AMC structure), Institutions: 25% Mutual Funds: 10% Company / Insiders 5% Retail: 60%. Shares Shorted: 55%
60% > 55% See how SS can be covered by retail. HF have just a bit of room.
But we know retail has been buying like crazy and actually has 98%. Plus because the HF have been creating those fake shares, it looks more like this:
So now we’ve got too many owners. HFs still have to buy the 55% for their real short shares, but they also have a pot of 75% fake.
So when it comes down to it HF need to come up with 130% from a bucket that is already 38% over balanced. Who of those buckets has enough percentage to satisfy? RETAIL.
TL:DR: When HFs get margin called, AMC and GME shares are literal Willy Wonka Golden Tickets.
A few buddies and I own all 25 of some random limited addition action figure. They’re each worth $50. Uncle Kenny in Chicago has actually promised 60 of those same random action figures to some people in Milwaukee and collected $50 each. Uncle Kenny doesn’t know that I’ve got friends in Milwaukee and these friends know math and understand that 60 > 25. All my friends start taking up Kenny on his offer because we know he doesn’t actually have 60 action figures and have to buy from the owners of the actually 25. Eventually, Uncle Kenny is forced to provide those 60 action figures so he’s got to go buy them. Unfortunately for Uncle Kenny, all the owners are demanding 100k each. Kenny has no leverage and MUST buy for 100k. I was smart and very early on actual bought 5 of those 25 so when Kenny comes crawling, I’m collecting my 500k.
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