The most important roundup of news for AMC June 25 2021
- Opened at $55.75, hit a high of $56.29, and closed at $54.06.
- GameStop ($17B market cap) moves to the Russell 1000. AMC ($25B market cap) stays in the small-cap Russell 2000 index (even though AMC’s market cap is currently 32% bigger than GME’s). It would’ve been “cool” for AMC to move to the Russell 1000, but it will not impede the moon launch at all.
- AMC appears on the list of “Threshold Securities.” Threshold securities are equity securities that have an aggregate fail-to-deliver position for five (5) consecutive settlement days at a registered clearing agency. Dave Lauer thinks that this is very important.
- Massive gains in $AMC? Bills to pay? June 25, 2021 (extended from December 31) is the last day to withdraw up to $100,000 tax-free from your IRA! That’s right: no standard tax, no capital gains tax, and no penalty! Normally, you would pay capital gains (or your full tax rate if you sell short-term) AND a 10% penalty for withdrawing before retirement. However, there is now an exemption available (COVIDTRA) whereby you pay NO TAX and NO 10% PENALTY on up to a $100,000 withdrawal if you pay the money back to your retirement fund within 3 years of the disbursement date. This is the deal of the century, apes. You’ll literally never have this opportunity again. You can pay off your debt or mortgage with money on which you’ve never paid tax to this point. Plus, it will remain 100% tax-free even after spending it if you simply “pay back” your IRA within 3 years! The IRS will treat it as if it were an IRA rollover. Basically, it’s a 3-year, $100,000 loan with a 0% interest rate, and you qualify even if you have the worst credit rating on the planet! Can’t beat that! (I am not a tax advisor or financial consultant. Always consult your tax advisor before withdrawing any funds from your IRA.)
The relief under the Act generally expires on June 25, 2021.