The most important roundup of news for AMC May 6 2021

1. 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!)

2. 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!

Draft Bill

Hearing Video

3. 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

4. DTCC CEO confirms that there have been no margin calls, so the January-shorting hedgeturds are still “all in.”
5. 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