The AMC Short borrow fee has just taken another massive leap, going from 1% to over 5% in literally a few minutes, according to data from IBorrowDesk and others.
At 1600 CET on August 26 2021, the AMC short borrow fee was sitting at 1%, which is where it’s been for some time. A quarter of an hour later, by 1615, it had jumped to over 5%.
AMC Short Borrow Fee highest since just before last rip
The last time the AMC short borrow fee was higher was on June 8, when it was at 6%, literally one week after the last gamma squeeze which took the stock to over $72 before settling at just a little over $62. In fact, the last time we saw it over 5%, the stock jumped from sitting around $9 to that bloody massive All Time High.
Since then, AMC has continued its pattern of huge rips, followed by a period of long consolidation in a pennant formation. On Monday of this week, the stock broke out of this long pennant, presenting what many have pointed to a massive bull flag.
Many of the YouTubers are currently talking about how bullish this looks, and standard technicals tell us the same thing. Whilst here at Apes Army, we try to keep away from analysis, it really does look like they have a point according the chart above. The MACD has crossed under the zero point, and you can quite clearly see the breakout from the pennant.
Review Dork gave an analysis of the play earlier in this video here:
And combined with the AMC short borrow fee jumping 500% in the space of 15 minutes yesterday, everything is looking good a primed for a massive leap. Lets go Apes.