AMC May 22 Timeline

The most important roundup of news for AMC May 22 2021

  1. Adam Aron confirms that the “3.2 million” shareholders figure as of March 11 accounts only for shareholders in the U.S. and Canada!  If we now consider the undoubtedly huge influx of apes since March 11 and all apes outside of the U.S./Canada, I would estimate that there are currently at least 4,000,000 shareholders worldwide.
  2. Oops, did triple neck make a boo-boo?  Apparently, AMC basher Rich Greenfield has been practicing without a license.  Perhaps, Rich shouldn’t have challenged apes to “bring it on”?  @SEC_Enforcement will appreciate feedback from concerned parties.
  3. Facebook begins censoring and banning users who post legitimate, verifiable news about Rich Greenfield’s apparent involvement in illegal activities.  Facebook falsely claims that such posts “don’t follow Community Standards.”  Wow.  Remember, “Citadel owns almost $1 billion in Facebook shares.”  Also, Randi Zuckerberg (the sister of Facebook CEO Mark Zuckerberg) is a member of Motley Fool’s board of directors.  Yeah, nothing to see here, folks!
  4. On May 19, the 3-month daily average volume of AMC was 97.51 million.  Multiply that by 91 days of rolling 3-month average and you get 8,873,410,000 shares—yes, almost 8.9 billion shares—traded in the last 3 months.  That means the entire float would have had to be bought and sold over 19 times!  That seems utterly impossible, considering that non-selling apes own 80%+ of the float.  Hmmmmm.
  5. Citadel got busted for “trading rules violations” by Chinese regulators, so you know that Citadel did some unconscionably shady stuff.  Citadel had to pay a fine of $97 million.
  6. re:  Hedge funds covering when synthetic shares are involved

When a hedge fund is forced to buy/cover a naked short/synthetic share, that share does NOT get placed into the float because it’s not an actual share.  It doesn’t really exist!  It never really existed.  Therefore, it can NOT and does NOT create more liquidity when sold.  Instead, when a hedge fund is forced to buy a synthetic share, it gets cancelled.  UNDERSTANDING THIS IS KEY.  Buying a synthetic share does not help a hedge fund at all, aside from eliminating an initial barrier to eventually being able to start covering its legitimate short positions.  Hedge funds must buy (i.e., “cancel out”) every naked short/synthetic share before being allowed to start covering their legitimate short positions.  In other words, they have no shortcuts or easy ways out!

Information and Timeline provided by u/AgedMurcury78 in his amazing Ultimate AMC Timeline document.

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