The most important roundup of news for AMC May 6 2021
- SEC schedules closed-door meeting for 2:00 PM, EST (3 hours before the AMC earnings report live stream at 5:00 PM, EST)!
UPDATE: Aron rescheduled AMC’s shareholder meeting to July 29. LMAO @ SEC.
UPDATE 2: SEC then reschedules its meeting to May 7 so that it’s after AMC’s earnings call and House hearings! (You can’t make this shit up!)
- re: New bill(s) to severely punish/cripple hedge funds
U.S. House Committee on Financial Services hearing on “market maker” and hedge fund fraud involving GME & AMC. Witnesses testifying include SEC Chairman Gary Gensler and heads of DTCC and FINRA. Chairwoman Maxine Waters, AOC, et al. will be grilling witnesses like rabid hyenas. Up for discussion is a bill that would absolutely destroy hedge funds! Personal penalties for violators and their associates include:
- fine of 100% of realized profit;
- fine up to the total compensation of the 1- to 3-year period before the violation;
- prison for up to 5 years.
Even the threat of this particular bill being passed is a major victory for apes and a devastating setback for hedge scum because the hearing itself will EXPOSE EVERYTHING!
- AMC reports earnings—via live webcast—a month early.
- Not a single confirmed case of COVID-19 having spread at an AMC theater.
- There were over 3,200,000 shareholders as of March 11 (and it is surely at or higher than 3,500,000 now)! Apes owned more than 4/5 (80%+) of outstanding shares at that time. The numbers are surely higher now. There will be an updated count in June.
- Market share increased from 25% to 33%
- Raised $2.95 billion in equity over the last year
- Planning to renegotiate leases with theater building owners
- $1.26 billion in debt forgiven or transferred to equity
- 99% of theatres in the USA are open; capacity restrictions quickly reducing
- As of March 31, total liquidity is $1.025 billion, the most in the 101-year history of the company.
- AMC and Aron each donating $50,000 to Dian Fossey Gorilla Fund
- Employing 5,000-10,000 people in coming months
- DTCC CEO confirms that there have been no margin calls, so the January-shorting hedgeturds are still “all in.”
- SEC Chairman Gensler defends apes’ use of chat rooms & social media:
It’s free speech. You should have the right to go to a neighbor & share your investments & maybe why they should invest as well. I’m more concerned about those engaging in manipulation.Gary Gensler, SEC Chairman