The most important roundup of news for AMC July 6 2021
- The short uptick rule is in effect for $AMC until the market closes today! In other words, hedge funds will have a difficult time shorting until the market closes! The last time this happened was on Wednesday, June 16, and the price jumped 10%+ the next day. An additional catalyst is that AMC has been on the threshold security list since June 25!
- Legal precedent established in the Overstock case suggests that being on the threshold list may enable Adam Aron to successfully sue naked short sellers and the prime brokerage firms that supported them in market manipulation.
- Closed at $49.96 after monumental fuckery by hedge funds. In other news, I saw Gary Genlser on a milk carton.
Information provided by u/AgedMurcury78 in his amazing Ultimate AMC Timeline document.