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(Daily Mail)   AMC ya later, stocks   (dailymail.co.uk) divider line
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1402 clicks; posted to Business » on 04 Jun 2021 at 12:03 PM (8 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



27 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-06-04 12:14:27 PM  
"Adios, Margin Coverers."
 
2021-06-04 12:20:10 PM  
burned through all the walking dead cash i see
 
2021-06-04 12:24:01 PM  
Easily visible short candles that don't hit stop losses make my weewee go brrrrr.
 
2021-06-04 12:24:50 PM  
What is it with companies named "AMC" that leads to them all going the way of the dodo?
 
2021-06-04 12:30:35 PM  
Ha Ha, just sold mine today. Bought at $15, sold at $55, turning $500 into $1500 or so. Not bad. It was a fun ride. I wouldn't have been comfortable gambling anymore, but some people invested 10s of thousands and made a lot of money.

It was a public pump and dump. AMC themselves triggered the dump after selling some stocks, making millions of cash in hand. Capitalism, yall.
 
2021-06-04 12:50:31 PM  
The Gremlins came back to bite them in the ass
 
2021-06-04 12:51:35 PM  

Wine Sipping Elitist: Ha Ha, just sold mine today. Bought at $15, sold at $55, turning $500 into $1500 or so. Not bad. It was a fun ride. I wouldn't have been comfortable gambling anymore, but some people invested 10s of thousands and made a lot of money.

It was a public pump and dump. AMC themselves triggered the dump after selling some stocks, making millions of cash in hand. Capitalism, yall.


I only have 7 shares that are up 400%, so I'm staying in a bit a bit longer to see how pump and dump goes. I think it can stay irrational a little longer.
 
2021-06-04 1:10:26 PM  
Man I need to find the next big meme stock, then get out of it a week later or so.
 
2021-06-04 1:43:30 PM  

kdawg7736: Man I need to find the next big meme stock, then get out of it a week later or so.


BB and RKT are my picks, still waiting for takeoff. NOK is too high but I'd hold it long in hopes dividends return.

/Nokia is the only Android I'd consider buying
//Their droid-killer phone OS is probably only a year away
 
2021-06-04 1:53:28 PM  
Watching this thing play out on Twitter, it's basically a Ponzi scheme.

Social media influencers keep telling the "apes" not to panic, and keep buying. The price temporarily goes up, everyone feels that their investment is safe. When it dips, rinse and repeat. At some point, the apes will have no more money to put in, and the stock will go into free fall... long after the influencers cashed out.

It's kinda tragic to watch people continue to buy the stock at $50 and $60.
 
2021-06-04 1:55:22 PM  

Stibium: kdawg7736: Man I need to find the next big meme stock, then get out of it a week later or so.

BB and RKT are my picks, still waiting for takeoff. NOK is too high but I'd hold it long in hopes dividends return.


It is weird to see the meme stocks still going.

I did a little for fun with GME and fully expected when it came back down to like 40 that it was all over. I did the same with AMC as well and made like a few bucks per share on an initial buy in of a $1000 (like 100 shares at 10 each). I thought the meme-ride was over, but it has kept going with GME, AMC, and now others. And it's not like a company or technology that you are speculating on that you think will change things later on. Like people who are into the psychedelics for medicine, green energy, some new company, etc. This is just if we all buy it the price will go up.
 
2021-06-04 2:01:50 PM  

Mad_Radhu: Wine Sipping Elitist: Ha Ha, just sold mine today. Bought at $15, sold at $55, turning $500 into $1500 or so. Not bad. It was a fun ride. I wouldn't have been comfortable gambling anymore, but some people invested 10s of thousands and made a lot of money.

It was a public pump and dump. AMC themselves triggered the dump after selling some stocks, making millions of cash in hand. Capitalism, yall.

I only have 7 shares that are up 400%, so I'm staying in a bit a bit longer to see how pump and dump goes. I think it can stay irrational a little longer.


I think the ride is over but after selling I IMMEDIATELY had the thought: "Shoot, I should've just taken out my original investment and let the profit RIDE FOOL RIDE"  At that point, it's all investment profit, no losses. So, you have the benefit of my hindsight.  Good luck.
 
2021-06-04 2:08:40 PM  

Wine Sipping Elitist: Mad_Radhu: Wine Sipping Elitist: Ha Ha, just sold mine today. Bought at $15, sold at $55, turning $500 into $1500 or so. Not bad. It was a fun ride. I wouldn't have been comfortable gambling anymore, but some people invested 10s of thousands and made a lot of money.

It was a public pump and dump. AMC themselves triggered the dump after selling some stocks, making millions of cash in hand. Capitalism, yall.

I only have 7 shares that are up 400%, so I'm staying in a bit a bit longer to see how pump and dump goes. I think it can stay irrational a little longer.

I think the ride is over but after selling I IMMEDIATELY had the thought: "Shoot, I should've just taken out my original investment and let the profit RIDE FOOL RIDE"  At that point, it's all investment profit, no losses. So, you have the benefit of my hindsight.  Good luck.


My original investment was only $70, so I'm really not at a risk of losing anything but paper gains, so I can afford to ride the rollercoaster a while longer.
 
2021-06-04 2:13:09 PM  

Dokstarr: Stibium: kdawg7736: Man I need to find the next big meme stock, then get out of it a week later or so.

BB and RKT are my picks, still waiting for takeoff. NOK is too high but I'd hold it long in hopes dividends return.

It is weird to see the meme stocks still going.

I did a little for fun with GME and fully expected when it came back down to like 40 that it was all over. I did the same with AMC as well and made like a few bucks per share on an initial buy in of a $1000 (like 100 shares at 10 each). I thought the meme-ride was over, but it has kept going with GME, AMC, and now others. And it's not like a company or technology that you are speculating on that you think will change things later on. Like people who are into the psychedelics for medicine, green energy, some new company, etc. This is just if we all buy it the price will go up.


The whole "meme stock" thing is a huge misnomer. People on reddit found undervalued stocks, bought them, and then told everyone else about how undervalued they were so they bought them too. The thing is that some of these stocks were shorted several times over the float, just begging for a short squeeze. What everyone is missing isn't the shorts on book, it's the failure to deliver shares that were traded.

Ordinarily that wouldn't matter because extremely shorted stocks tend to just go bankrupt and then it doesn't matter. The clearinghouse still has records of those, but because no one wanted or needed to buy those shares back, it doesn't matter. Where "meme stocks" take off isn't killing shorts, it's murdering the fark out of people who shorted and never closed, nor intended to do so, resulting in millions of shares that are in circulation and being traded but were never issued and thus never existed except as a transaction record on some computer database. At some point naked shorts have to pay for those shares that were never delivered, and that's the real powder behind the meme stock explosions.

Shorts that had positions on book closed for the most part with GME, resulting in the $800 high. Clearinghouses and prime brokers that allowed FTDs to slide were suddenly in jeopardy of having to cover them, and all at once. That got shut down, so the $800 high was all we got, on paper anyway. People with fractional shares on RobinHood had their positions closed at a price between 4 and 5k, RobinHood using limit orders set by people like me who knew 1k was too low.

GME isn't over by a long shot. Nobody holding long forgot how we got screwed, otherwise the price would have come back into reality months ago, as well as spikes in it's price wouldn't spike VIX and ding the DJIA at the same time.
 
2021-06-04 3:25:18 PM  

Stibium: The whole "meme stock" thing is a huge misnomer. People on reddit found undervalued stocks, bought them, and then told everyone else about how undervalued they were so they bought them too. The thing is that some of these stocks were shorted several times over the float, just begging for a short squeeze. What everyone is missing isn't the shorts on book, it's the failure to deliver shares that were traded.

Ordinarily that wouldn't matter because extremely shorted stocks tend to just go bankrupt and then it doesn't matter. The clearinghouse still has records of those, but because no one wanted or needed to buy those shares back, it doesn't matter. Where "meme stocks" take off isn't killing shorts, it's murdering the fark out of people who shorted and never closed, nor intended to do so, resulting in millions of shares that are in circulation and being traded but were never issued and thus never existed except as a transaction record on some computer database. At some point naked shorts have to pay for those shares that were never delivered, and that's the real powder behind the meme stock explosions.

Shorts that had positions on book closed for the most part with GME, resulting in the $800 high. Clearinghouses and prime brokers that allowed FTDs to slide were suddenly in jeopardy of having to cover them, and all at once. That got shut down, so the $800 high was all we got, on paper anyway. People with fractional shares on RobinHood had their positions closed at a price between 4 and 5k, RobinHood using limit orders set by people like me who knew 1k was too low.

GME isn't over by a long shot. Nobody holding long forgot how we got screwed, otherwise the price would have come back into reality months ago, as well as spikes in it's price wouldn't spike VIX and ding the DJIA at the same time.


That's completely wrong. Totally, totally wrong.

The reddit people looked for cheap stocks that were heavily shorted because they wanted to create a short squeeze opportunity. Whether or not the stock was under or over valued didn't matter (and AMC's low valuation was correct - they have like $6 billion in debt and very little cash flow).

The very simplistic explanation of a short squeeze, is that if a stock does not go down in price as the short sellers predict, after a certain period of time, they can be forced to buy the stock. And when that happens, the stock goes up.

The reddit people are trying to induce a short squeeze by organizing an army of investors to buy these meme stocks because when lots of people are buying shares, the stock price goes up. And that will cause the squeeze to occur.

The endgame here is that when the shorts are forced to buy the stock, the price will jump even more, and when it hits that peak, you dump your shares.

AMC, for example, was targeted, because it's heavily shorted, which means the stock could jump to ridiculous heights when all of these shorts are forced to buy shares, and the low cost of the stock increased investment return (buy low and sell high) and made it easy for lots of every day people to buy shares (if you did this with a stock trading at $50, for example, that would have priced out a lot of people).

The people who organized this are telling their army of investors that AMC is undervalued so that they don't panic and sell their stock too soon (it's far easier to say that's the reason to hold the stock then explain the fundamentals of a short squeeze which involves risk). They've also convinced people to go along with this through an emotional appeal, saying that this is a way to stick it to hedge funds that hold the short options, and have depicted the hedge funds as boogiemen. Whether or not that's deserved, the people who have organized this are doing exactly what the hedge funds do: make money.
 
2021-06-04 3:42:01 PM  
I can't wait until the next season of Billions where they inevitably do a storyline where Axe Capital does battle with a Reddit/Twitter group who are trying to short squeeze them.
 
2021-06-04 4:10:56 PM  

thornhill: That's completely wrong. Totally, totally wrong.


You must be really smart and informed as to the goings-on in reddit if you don't read it or pay attention to what gets posted. Please enlighten us who do use and post on reddit on how we didn't actually read what we all read and what was publicly available, and how a heavily shorted stock cannot ever be a value play.

You'll also have to show your work because that meant Keith Gill perjured himself to Congress.
 
2021-06-04 4:46:02 PM  

thornhill: Watching this thing play out on Twitter, it's basically a Ponzi scheme.

Social media influencers keep telling the "apes" not to panic, and keep buying. The price temporarily goes up, everyone feels that their investment is safe. When it dips, rinse and repeat. At some point, the apes will have no more money to put in, and the stock will go into free fall... long after the influencers cashed out.

It's kinda tragic to watch people continue to buy the stock at $50 and $60.


If only there were some sort of metric involving price and earnings that investors could reference to guide their decisions.
 
2021-06-04 5:07:16 PM  

Northern: thornhill: Watching this thing play out on Twitter, it's basically a Ponzi scheme.

Social media influencers keep telling the "apes" not to panic, and keep buying. The price temporarily goes up, everyone feels that their investment is safe. When it dips, rinse and repeat. At some point, the apes will have no more money to put in, and the stock will go into free fall... long after the influencers cashed out.

It's kinda tragic to watch people continue to buy the stock at $50 and $60.

If only there were some sort of metric involving price and earnings that investors could reference to guide their decisions.


In a rational market, you'd be right, but there are a large groups trying to game the system right now, so it has become disconnected from fundamentals. There's some money to be made of you have some cash to throw at it with the expectation that you could easily lose a good chunk of it if you are wrong.

My worry is that this will eventually destabilize the market, and there will be a successful short squeeze that causes a large firm to go into a full Lehman Brothers meltdown.
 
2021-06-04 5:08:03 PM  

Stibium: thornhill: That's completely wrong. Totally, totally wrong.

You must be really smart and informed as to the goings-on in reddit if you don't read it or pay attention to what gets posted. Please enlighten us who do use and post on reddit on how we didn't actually read what we all read and what was publicly available, and how a heavily shorted stock cannot ever be a value play.

You'll also have to show your work because that meant Keith Gill perjured himself to Congress.


As I said before, the motivation behind these meme stocks has always been that they're ripe for a squeeze because of the huge amount of short positions, not because of any underlying belief in the value of these companies. The real or perceived value is irrelevant - it's all about the number of short positions. The more short positions, the higher the stock will go when they're forced to buy. Anyone who says otherwise is a liar because they don't want to appear as greedy as the hedge funds they bash (because you're essentially manipulating the system to get rich quickly) or doesn't understand the stratagem they've gotten themselves involved in.
 
2021-06-04 5:09:33 PM  

Northern: thornhill: Watching this thing play out on Twitter, it's basically a Ponzi scheme.

Social media influencers keep telling the "apes" not to panic, and keep buying. The price temporarily goes up, everyone feels that their investment is safe. When it dips, rinse and repeat. At some point, the apes will have no more money to put in, and the stock will go into free fall... long after the influencers cashed out.

It's kinda tragic to watch people continue to buy the stock at $50 and $60.

If only there were some sort of metric involving price and earnings that investors could reference to guide their decisions.


I'd rather go long on speculation than numbers that pretend to matter but don't actually mean anything until next year's annual report gets amended.
 
2021-06-04 5:28:16 PM  

thornhill: Stibium: thornhill: That's completely wrong. Totally, totally wrong.

You must be really smart and informed as to the goings-on in reddit if you don't read it or pay attention to what gets posted. Please enlighten us who do use and post on reddit on how we didn't actually read what we all read and what was publicly available, and how a heavily shorted stock cannot ever be a value play.

You'll also have to show your work because that meant Keith Gill perjured himself to Congress.

As I said before, the motivation behind these meme stocks has always been that they're ripe for a squeeze because of the huge amount of short positions


And since you didn't get the thinly-spread sarcasm implying you don't know what you are talking about vis a vis meme stocks, I'll just quote my inner monologue's G-rated line of "sir, you are incorrect."

If you only read CNBC for your DD and don't know wtf is going on, that's on you. I thought GME was a joke and didn't pay attention to it when it was still under $5. Then it started taking off, and I took it seriously and paid attention. I read the DD, understood how it was correct all along, hit myself for being so stupid and impatient to not have bought hundreds of shares in the first place, and promptly YOLOed before it hit $80.

Your argument is uninformed on its face because there are companies with short interest several times higher, prices less than $5, zero float and shorts available, and zero recognition by reddit. Reddit doesn't care about squeezing shorts, reddit cares about making money. Go shiatpost about a ticker with the highest short interest on WSB and see how long it takes you to get banned. No one cares. You are delusional if you think that reddit has the money to initiate a short squeeze.

It took DFV over a year to get some action, as well as hundreds of people sinking hundreds of thousands on a $4 stock and then finagling their broker to stop lending them.As much as you might want to believe, meme stocks are not get rich quick schemes, even if you only found out what they were last night.
 
2021-06-04 5:36:13 PM  
You reach down far enough in the box of movie popcorn, you just might find yourself a weiner.

Diner (1982) - Popcorn
Youtube vujNcE_43Qg
 
2021-06-04 6:47:17 PM  
I bought a bottled water at an AMC theater like 9 years ago, and it was 6 dollars.

They can go to hell.
 
2021-06-04 10:13:52 PM  

Stibium: kdawg7736: Man I need to find the next big meme stock, then get out of it a week later or so.

BB and RKT are my picks, still waiting for takeoff. NOK is too high but I'd hold it long in hopes dividends return.

/Nokia is the only Android I'd consider buying
//Their droid-killer phone OS is probably only a year away


RKT is what my Morgan Stanley guy says.  I'm in with my nugget already and hopefully it goes to the moon.
 
kab
2021-06-05 12:54:37 PM  
Articles:  AMC is tanking
Actual stock:  4x higher than it was a month ago.

/yes, I know it's going to settle back down
//yummy option premiums
 
6 days ago  
I bought at 11. sold 1/2 at 23 and got back my initial investment. ..  now I'm on house money.  If it tanks no skin of my nose.. if it rockets.. I got my ticket.
 
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