The most important roundup of news for AMC May 12 2021
- Borrowing fee rises again to a mind-boggling 216%. Only 0–2,000 shares available to short at any given time.
CRITICAL: Ortex has confirmed that the extreme disconnect between Ortex’s 216% and Stonk-O-Tracker’s 82% is due to Ortex accessing data from 85% of global lenders/brokers. Fintel and Stonk-O-Tracker access data from only 1 broker!)
- There is literally only 1 reason why hedge funds would continue to short at 82%–216% interest: they simply have no choice. Either they triple-down and hope for an illegal lifeline or they cover now and face immediate bankruptcy. Imagine this: at 216% interest, a hedge fund that is shorting only $1,000,000 of AMC stock has to pay $2,160,000 per year (or $180,000 per month) in interest. That is on top of its losses.
- Ice T is on board!