The most important roundup of news for AMC June 15 2021
- Relatively uneventful day in price action. After reaching a high of $64.70, AMC closed the regular session at $59.04 (+$2.04 / +3.58%). Hedge fund laddering in AH lowered the price to $57.85 (-2.02%).
- When $AMC was $1.91, they said it was going bankrupt
$5.50, they said it wasn’t worth a dollar
$8, they said nobody goes to the theaters anyway
$15, they said it’d never touch $25 again
Now it’s $57 and they say the squeeze won’t happen
- Reminder: remove all sell orders! They contribute to delaying the squeeze because they create selling pressure. They also make easy targets for hedge funds when they are “stop-loss hunting” during run-ups. You’re hurting yourself and every other ape.
- Hey, SEC, the world is watching. Go after the bad guys, not the good guys!
- There is no such thing as “AMC Day.” It was manufactured and planted by hedge fund shills to create the illusion of collusion between apes. Apes can’t plan shit!
- Trey kills it in a live TV interview. The kid is getting better each time!
- Apes can now join the class action lawsuit against RobinHood. Get justice for RobinHood blocking your ability to buy AMC shares on or around January 28, 2021. Isn’t it odd how buying was forbidden but selling was allowed? That stopped the developing squeeze in its tracks and handed a victory to the hedge funds.
The lawsuits variously seek to recover damages for those affected by Robinhood’s alleged market manipulation in violation of Sections 9(a) and 10(b) of the Securities Exchange Act of 1934 (15 U.S.C. §§ 78i(a) and 78(j)(b), and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission (17 C.F.R. § 240.10b-5).
According to the lawsuits, Robinhood engaged in illegal market manipulation by restricting trading of some or all of the Affected Securities. The manipulation depressed the value of the Affected Securities causing substantial losses to investors. On the other hand, the alleged manipulation bestowed significant benefits to those who had short positions on the Affected Securities, including hedge funds.
- CATALYST ALERT! AMC Theatres is nearing a deal to take over two extremely high-profile, Los Angeles-area movie theaters located in two prime, outdoor shopping malls: The Grove in West Hollywood and The Americana at Brand in Glendale.
- CATALYST ALERT #2! This could finally be the end of naked short selling and illegal rehypothecation of shares!
The DTC has finally re-filed and simultaneously approved SR-DTC-2021-005!
The proposed rule change was approved by a Deputy General Counsel of DTC on June 15, 2021.
For those who don’t know, 005 was withdrawn “temporarily” to purportedly address “technical formatting issues.” It was supposed to take a week or so to “fix,” but it inexplicably took months. Now that it has finally been approved, 005 will prevent loaned/shorted shares from being loaned/shorted more than once. More specifically, when a stock is traded through the DTC:
- it must be owned by the person who is trading it;
- a name gets assigned immediately after the stock gets traded from the seller to the buyer;
- the seller must mark the stock as “sold”;
- once a stock has “sold” status, the seller cannot use it for any other transactions.
TL;DR: SR-DTC-2021-005 prevents loaned/borrowed shares from being loaned/borrowed more than once. It also prevents market makers from continuing to illegally reset FTD transactions because they are no longer able to conceal short positions through deep-in-the-money options.